Bitcoin Plummets Just in Time for Blockchain To Invest $30 Million


BlockchainPaying for items in the virtual world has drastically changed over the years. Re-entering those card numbers and pins on your tablet is so last year. Today, thousands of businesses now accept digital currency for goods and services. Bitcoin is what we're talking about, and despite it's recent dramatic decrease in price, it looks like venture capitalists are trusting in the digital currency's staying power. Blockchain, the world's largest Bitcoin wallet and data analytics provider, has just been hit with $30.5 million in funding. This is good news, as it proves Silicon Valley is not giving up on Bitcoin just yet. It also means a wider community of folks are going to become interested in the Bitcoin, as well as the startup Blockchain.

Blockchain1Blockchain was founded only three years ago, yet managed to gain a user base of over 2 million in that time. After being one of the earliest Bitcoin startups, and launching prior to Bitcoin's current success, it is now the most popular platform for sending and receiving Bitcoins. When discussing their motives in reaching out to investors, Blockchain co-founders said, “We searched long and hard for the right investors to bring onto the team to help us scale, to advise us and work with us to bring Bitcoin to the next 20 million people”. With technology advancing at the rate it is, there is no doubt Bitcoin will continue to become more useful, as more on-the-go people will be using it on their mobile devices.

Blockchain2Lightspeed Venture Partners and Wicklow Capital are to thank for this huge investment in Blockchain, and they came in at the perfect time. Bitcoin prices plummeted so low this week, many began speculating if it would even survive. Considering it's still “the plaything of technology enthusiasts and speculators”, new acceptance of Bitcoin is necessary at this point. With the new investment, the partners at Blockchain hope to build a more “robust platform”, something that will take the currency “beyond the realm of speculation”. Make it useful and they will come.

Topics: Technology News Inventions & Innovations Smartphones & Mobile Devices Storage & Cloud Tablets

Join the conversation!

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.