If you give money to people in exchange for innovation that encourages innovation. That said, purchasing patents only encourages innovation if those patents are the product of innovation.
#1 can be a concern if #2 is too common. I.e. if it's too easy to make junk patents, trading them can become a lucrative parasite business. So some will file tons of junk patents just to sell them to trolls. In such scenario the fact that some are ready to pay for such junk encourages more patent pollution which only harms innovation.
Judging by the current patent system, patents and innovation aren't equal in many cases. On the contrary, patents are often equal to the stifling of innovation. So giving money for patents is not equal to giving money for innovation in general case.