# Prof. David Yermack weighs in on Bitcoin's post-auction price increase

1 Faculty News July 2, 2014 ![The New York Times Logo](/sites/default/files/styles/246w/public/assets/images/con_035448.jpg?itok=IVkgK8oz)>

Excerpt from [The New York Times](http://dealbook.nytimes.com/2014/07/02/venture-capitalist-tim-draper-wins-bitcoin-auction/) -- "The increase could also be the result of interest in the auction itself, said [David L. Yermack](http://www.stern.nyu.edu/faculty/bio/david-yermack), a professor at New York University’s Stern School of Business. 'Just the fact that there was such broad demand would tend to push up the value of Bitcoin,' he said."

[Read more](http://dealbook.nytimes.com/2014/07/02/venture-capitalist-tim-draper-wins-bitcoin-auction/)