Despite Hurdles, Bitcoin Investing Continues: Circle Raises $17 Million in Series B Financing

As reported by Recode.net, the rush to invest in Bitcoin companies continues. Circle Internet Financial, based in Boston, has said that it has closed a $17 million round of Series B financing from a group of investors. Their investors now include Breyer Capital, Accel Partners, General Catalyst Partners, Pantera Capital, the Bitcoin Opportunity Fund, and SecondMarket CEO and founder Barry Silbert. This continues a streak of investing into the digital currency, which has included $20 million in funding to Wences Casares for a bitcoin vault and wallet Xapo and $25 million into bitcoin wallet Coinbase.

 “There are not a lot of credible companies building what we are, and we saw the opportunity to bulk up to bring bitcoin to the mainstream. We mean to get beyond the bunch of amateurs and enthusiasts that have dominated the early development of digital currency and make it easy for regular people to use," said Jeremy Allaire, Circle founder, chairman and CEO.

Not bad for a company that considers their product to be a stored value card. Circle continues to focus on making online tools that allows customers to engage in safe, easy transactions. This will hopefully reduce much of the risk associated with bitcoin; last month Mt. Gox was forced to file for bankruptcy after half a billion of bitcoins was allegedly stolen from them by hackers.

Read the full article here.

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