Thought For The Week

VCs Keep Investing In Bitcoin Companies

This was a big week in fundraising for Bitcoin companies. VCs this week poured more money into Blockstream ($US55m), Simplex ($US7m) and Kraken (undisclosed round) - all well known startups in the bitcoin space.

Some have been surprised by the follow on funding that these bitcoin focused startups have been able to raise. Given that many investors have been pushing the 'bitcoin is dead' meme since the Hearn piece, it's unsurprising most would've expected follow on financing rounds to be basically non-existent. However, contrary to this view, it seems that confidence in the right types of bitcoin companies is still high.

Let's see what the next few months hold. As many bitcoin startups are approaching the 18 month mark, it'll be a good test of the market to see how many can secure funding in their A-rounds/series seed extension rounds.

--- Alan Tsen, @alantsen

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