14 May '13, 12pm

A bet on Bitcoin: new VC fund invests in currency startups

A bet on Bitcoin: new VC fund invests in currency startups

Bitcoin: is it like gold or Dutch tulip bulbs? Either way, investors are flocking to the crypto-currency , which is mined with computers and circulates outside the control of any central bank. The latest buzz comes by way of the Bitcoin Boost Fund, a new Silicon Valley fund that announced on Tuesday that it will hand out $50,000 to seven or so Bitcoin startups. All of the startups will be graduates of Boost VC, an accelerator program that seeks to mentor would-be Bitcoin barons. The accelerator, created earlier this year , is run by Adam Draper, who describes himself as a “fourth generation VC” and who is hosting a hackathon at the “Bitcoin: Future of payments ” conference in San Jose this weekend. News of the fund, which will total around $400,000, comes less than a week after Fred Wilson’s Union Square Ventures announced it would put $5 million into Coinbase, a service t...

Full article: http://gigaom.com/2013/05/14/a-bet-on-bitcoin-new-vc-fund...

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