2015 Q1 Bitcoin VC Investment Trumps The Numbers For All of 2014
In the first quarter of 2015, Bitcoin venture capital investment has already exceeded that of 2014. BitFury, the Amsterdam mining operation, has announced that its third round funding has exceeded 20 million dollars from investors. The company had previously acquired 20 million last summer in an investment round.
BitFury plans to open up another location in Georgia as a vehicle and data center to stay ahead of the game in mining operations. The business itself has received roughly $60 million in venture capital since its inception in 2011. Investors from this round include: DRW Venture Capital, iTech Capital, and the Georgian Co- Investment Fund.
The first quarter of 2015 VCs dropped a whopping $229 million into Bitcoin-related startups and ventures. This investment growth has doubled in size over one year in contrast to 2014 reports. Many attribute these investments to the same enthusiasm the Internet had in the early 90s.
Invested In By The Finest
recently closed a $50 million funding round; 21 inc
jumps over Coinbase’s
2015, giant-sized investment funding by receiving $121 million in total funding. However, Coinbase made headlines with its respectful $75 million in its start up in the beginning of the first quarter.
According to a report from Coinspeaker
, 21 Inc. is building “new technology that is expected to facilitate worldwide bitcoin adoption and promote bitcoin mining.” Although the company has been a very mysterious, it has offered a “toaster” to its constituents in a revenue share trade. Even though these gifts come strikingly different the company has been invested in by Silicon Valley’s finest. Including: Peter Thiel, Qualcomm Ventures
, Data Collective
, Khosla Ventures
, Yuan Capital
, and RRE Ventures
BitFury is a company to watch, as it has overtaken its rival, KnCMiner
, which raised $29 million in funding. Eyes are clearly watching Bitcoin mining and its data operations. The data stored with these companies and its analysis is said to be worth millions. Start ups like Augur
are just now digging into the ideas of prediction markets and how powerful they will be.
It’s an exciting time in the land of crypto. With the continued flow of venture capital going into it, Bitcoin has a lot of prospectors. Everyday, the habitat is getting larger and spreading into uncharted territory. People are starting to trust math and probability
over the uncertainty of human error. Financial Tech and encryption protocols like Bitcoin are disrupting the existing finance market — showing no mercy. Banks can’t keep up
to these new financial innovators.
Do these disruptors help the banks or continue their way without them? Let us know in the comments below!
Images: Shutterstock, BitFury