Bitcoin Startup Funding Is On Track To More Than Double This Year
Advertisement
Global investment in Bitcoin-related businesses is exploding. The BI Intelligence chart above gives a sense of just how fast money is being pumped into these Bitcoin-based startups.
Advertisement
- Based on the run rate through June, investment in Bitcoin businesses is on track to reach $250 million this year, BI Intelligence estimates. That's 150% growth over the $99.5 million that was invested in 2013.
- At that run rate, investment in Bitcoin-related businesses could grow over 12,000% from the $2 million that was invested in 2012.
Here are two comparisons to put these numbers in context:
- Payments startup funding. $492 million was invested in payments startups during the first quarter of 2014. During the same period, $64 million of that total was invested in Bitcoin startups, according to CoinDesk. That means investment in Bitcoin startups accounted for 13% of investment in payments startups.
- Early internet. Advocates of the digital currency have often compared its disruptive potential to the internet. And they've made the argument that investment in these companies is akin to early investment in internet companies in the mid-90s. Going by that comparison, Coin Desk notes that the run rate of investment in Bitcoin businesses has reached the level of early stage investments in U.S. internet startups in 1995, not adjusted for inflation.
BI Intelligence is a subscription tech research service from Business Insider. For full access to all our charts, analysis and reporting on the latest trends disrupting the payments industry, sign up for a free trial.
Complimentary Tech Event
Transform talent with learning that works
Capability development is critical for businesses who want to push the envelope of innovation.Discover how business leaders are strategizing around building talent capabilities and empowering employee transformation.Know More
Advertisement
- A centenarian who starts her day with gentle exercise and loves walks shares 5 longevity tips, including staying single
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- FSSAI in process of collecting pan-India samples of Nestle's Cerelac baby cereals: CEO
- India's e-commerce market set to skyrocket as the country's digital economy surges to USD 1 Trillion by 2030
- Top 5 places to visit near Rishikesh
- Indian economy remains in bright spot: Ministry of Finance
- A surprise visit: Tesla CEO Elon Musk heads to China after deferring India visit
- Unemployment among Indian youth is high, but it is transient: RBI MPC member