Sign up to receive 5 free days of our daily summary for tech news.

Emerging Bitcoin Industry Gets Crowded Fast

When the San Francisco-based Bitcoin startup Coinbase closed a $25 million funding round led by Andreessen Horowitz last December, it marked a coming of age for the digital currency. The price of a bitcoin had hit $1,000, and a fledgling industry that had long been populated with libertarian true-believers, a few committed techies and some adventurous investors had suddenly become mainstream in Silicon Valley.

Bitcoin’s price has since fallen back down to earth. (Monday it hovered around $575.) But venture capital firms’ desire to invest in companies that can build businesses around Bitcoin has not abated. Coinbase Statistics—part of the Bitcoin-focused media organization Coindesk, a Bitcoin startup in its own right—calculated that in 2012 investors put $2.1 million into Bitcoin businesses; in 2013 that jumped to $88 million. As of June 2014, the count had already exceeded last year’s total, hitting $113 million.

No subscription? You're missing out.

Join the high-powered community of tech and business leaders who rely on The Information's original news and in-depth reporting.

This chart was updated to add new information on July 30.

8 total comments
Saar Gur, Rod Drury and 4 others commented on this article.
Read comments from top tech and industry leaders
Joe Lonsdale
Joe Lonsdale
Founding Partner, Eight
Chamath Palihapitiya
Chamath Palihapitiya
Founder & Managing Partner, SocialCapital
Tina Sharkey
Tina Sharkey
CEO, Brandless
Jonah Peretti
Jonah Peretti
CEO, Buzzfeed
Adam D'Angelo
Adam D'Angelo
CEO, Quora
Brit Morin
Brit Morin
Founder & CEO, Brit + CO
Dustin Moskovitz
Dustin Moskovitz
Co-Founder, Asana
Christina Miller
Christina Miller
President & General Manager, Turner
Max Levchin
Max Levchin
CEO, Affirm
Adam Mosseri
Adam Mosseri
Director of Product, Facebook
Alex Mather
Alex Mather
The Athletic
Martha Josephson
Martha Josephson
Partner, Egon Zehnder
James Murdoch
James Murdoch
Co-Chief Operating Officer, 21st Century Fox
Andrew Kortina
Andrew Kortina
Founder, Venmo
Ben Chestnut
Ben Chestnut
Co-Founder & CEO, Mailchimp
Ruchi Sanghvi
Ruchi Sanghvi
VP Operations, Dropbox
Login or Subscribe to follow the discussions happening here and real-time in our   Slack Community.