The wealthiest serving member of Congress, California congressman Darrell Issa, visited Airbitz, a Bitcoin wallet provider. The Airbitz team and Issa discussed legislation enabling startups to raise equity funding not only from accredited investors but the public as well.
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Congressman Buys Bitcoin
According to the San Diego Union Tribune, Airbitz focuses on enterprise software allowing companies to encrypt and secure consumer data. In day-to-day practice, Airbitz is a Bitcoin wallet provider, including a directory and possibly an exchange in the future operated by a third party. According to Airbitz co-founder Paul Puey, the startup and the Congressman talked about Bitcoin at great length.
“Our chat with the Congressman was full of Bitcoin discussion,” he told Bitcoin.com over e-mail. “We talked to no end about the role of bitcoin in balancing financial powers, its utility relative to gold and fiat, and how it redefines our notion of money.”
Airbitz raised $475,000 USD in traditional venture capital. According to the Union Tribune, the company will next raise $1 million from the public. This can be done thanks to Title III of the JOBS Act.
Airbitz, founded in San Diego, is