Investment In Bitcoin Surpasses The Early Internet’s By 25%

Investment in bitcoin is outpacing that of the early Internet by almost 25%, according to a report today by the International Business Times, a London, U.K.-based newspaper.

Venture capitalist investment in bitcoin startups is projected to be $786 million in 2015, compared with $639 million in Internet companies in 1996, the report noted.

The venture capital investing includes the $116 million raised by the San Francisco-based 21 Inc. in March, the most ever for a cryptocurrency sector startup.

‘A Fringe Technology’

Marc Andreessen from Andreessen Horowitz, the lead investor, said that bitcoin was similar to the Internet in its early years. He called it a “fringe technology” with “fringe characters” and “fringe politics.”

“In 1994, as a venture capital firm, it would have been a good idea to take the Internet seriously and it would have been a good idea to invest in a cross-section of (Internet) companies,” Andreessen said at the time.

Other bitcoin startup funding in 2015 included $50 million in Circle, $28 million in Ripple Labs and $75 million in Coinbase.

Also read: Bitcoin Startup 21 Inc. Scores $116 Million In Venture Capital

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Read more ... source: CryptoCoinsNews