State of Bitcoin Q1 2015: Record Investment Buoys Ecosystem

CoinDesk is pleased to announce the latest quarterly State of Bitcoin report, sponsored by, a bitcoin platform for developers.

This article runs through some key findings from the new report, which focuses on events in the bitcoin ecosystem since the beginning of 2015.

All-time bitcoin startup VC investment reaches $676m

The first quarter of 2015 saw a record-breaking amount of venture capital invested in bitcoin startups: $229m.

Q1’s deal activity was led by 21 Inc and Coinbase, companies that received $116m and $75m respectively. These are the two largest bitcoin investment rounds made to date.

With a funding total of $121m, 21 Inc has now surpassed Coinbase as the best-capitalized startup in bitcoin. However, very little information is available about the firm beyond its confirmation that it meets the definition of a ‘universal’ bitcoin company* (Slide 27).

Since 2012, a total of $676m (Slide 29) has been invested in bitcoin startups, with a 51% increase from the end of 2014.

slide 29

The number of countries that received VC investment also grew from 18 to 22 in the first quarter of 2015.

The four new countries are Barbados, France, Kenya and Switzerland. Remittance platform BitPesa also became the first bitcoin startup based in Africa

Read more ... source: CoinDesk