Bitcoin die-hards revisit roots with virtual conference giveaway

Crypto mania is back in full force and the latest iteration of excitement during these pandemic times comes in the form of a new wrinkle on one of the oldest promotions: Free Bitcoin.

Tim Draper’s blockchain venture studio, Draper Goren Holm, is pledging to give away at least $1 million in Bitcoin payouts to attendees of its now-virtual Los Angeles blockchain summit set to take place later this year. The push to stimulate adoption hearkens back to the so-called Bitcoin Faucet set up by early advocate Gavin Andresen in 2010 that gave away tokens as rewards for completing tasks and as prizes for games.