TORTOLA, BVI—Venture capitalists continue to place bets on Bitcoin-related businesses, even as many remain skeptical of the business model and regulation is scant.
Blockchain, which is a Bitcoin wallet provider and software developer, said it has secured $30.5 million in new funds primarily from investment funds Lightspeed Venture Partners and Wicklow Capital. Blockchain.info is considered the world’s most visited Bitcoin website and in January reported reaching one-million user wallets for its wallet service.
The company was founded in 2011. The price of one Bitcoin, which hit a high of $1,150 in 2013, has declined in recent weeks to less than $330. Despite that, numerous other Bitcoin companies have also raised venture capital over the past year. Bitcoin, and what to make of it, has been the subject of discussion at numerous CU meetings.