29 Mar '13, 8pm

Bitcoin VC explains $1B valuation: @UpstartMichael @BoostVC

Bitcoin VC explains $1B valuation: @UpstartMichael @BoostVC

T he virtual currency Bitcoin reached a total market valuation of $1 billion Thursday, and today Adam Draper , the founder of Boost VC , which backs bitcoin-related startups and others, published five reasons why this crypto-currency market has reached the "one thousand million " dollar mark. These are the highlights: Investor confidence has grown in Bitcoin In the last month, investors have reached out to me expressing an urge to speak about Bitcoin, institutional and individuals. All of these investors are figuring out where they should bet their money in the space (I am more than happy to take the money off their hands). This means that there is an influx of money in the space, so the value of Bitcoin and the Bitcoin ecosystem goes up. Fincen [the Treasury Department's Financial Crimes Enforcement] put out Guidelines regarding virtual currencies. When the U.S. governmen...

Full article: http://upstart.bizjournals.com/companies/startups/2013/03...

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