27 Jul '15, 11am

Bitcoin growing 25% faster than the internet in its early years

The growth of bitcoin in terms of investment is outpacing that of the early stage internet by almost 25%, according to the latest figures. Venture capitalist investment in bitcoin startups is projected to be $786m (£506m) in 2015, compared with $639m in internet companies in 1996. Data gathered by CoinDesk and PriceewaterhouseCoopers (PwC) for the State of Bitcoin Q2 2015 report also revealed investment in bitcoin startups will double year-on-year from 2014. The venture capital funding includes the $116m raised by the San Francisco-based 21 Inc in March, the most ever by a startup in the cryptocurrency sector. Lead investor Marc Andreessen from Andreessen Horowitz said at the time that bitcoin was similar to the internet in its early years, as it is a "fringe technology" with "fringe characters" and "fringe politics". Andreessen said: "In 1994, as a venture capital firm, i...

Full article: http://www.ibtimes.co.uk/bitcoin-growing-25-faster-intern...

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