CoinDesk is pleased to announce the latest quarterly State of Bitcoin report, sponsored by Gem.co, 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.
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.
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