BitPay Reportedly Raising $30 Million Round, on $160 Million Valuation
According to a report from TechCrunch, Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that payment processing firm, BitPay is raising $30 million, which would be the largest round of funding in the industry. Not commenting to TechCrunch, BitPay is reportedly counting Richard Branson, Jerry Yang, and Index Ventures as its investors in the round, while valuating the firm at $160 million.
Atlanta based BitPay has been one of the most successful and fastest growing bitcoin firms, as their solution to enable companies to receive bitcoins was being used by over 26,000 merchants as of March of this year. Online firms using their services include WordPress, Zynga, and TigerDirect. The firms also launched this year a new service to easily allow US firms to pay a portion of an employees salary in bitcoins.
Following their previous round of funding, BitPay had been involved with growing its business beyond its Atlanta headquarters as they opened a San Francisco and New York office. With the alleged new investment, BitPay could use the funds to move aggressively to market their bitcoin payment solutions to online businesses. Competing against Coinbase, and smaller firms like GoCoin and CoinKite, the merchant payment processing space has become more crowded over the last year, leading to a ‘land grab’ to capture market share in the growing industry. As a result, while BitPay may not have needed additional funding, the cash allows them to intensify their client onboarding and increase of headcount.
According to a report from TechCrunch, Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that payment processing firm, BitPay is raising $30 million, which would be the largest round of funding in the industry. Not commenting to TechCrunch, BitPay is reportedly counting Richard Branson, Jerry Yang, and Index Ventures as its investors in the round, while valuating the firm at $160 million.
Atlanta based BitPay has been one of the most successful and fastest growing bitcoin firms, as their solution to enable companies to receive bitcoins was being used by over 26,000 merchants as of March of this year. Online firms using their services include WordPress, Zynga, and TigerDirect. The firms also launched this year a new service to easily allow US firms to pay a portion of an employees salary in bitcoins.
Following their previous round of funding, BitPay had been involved with growing its business beyond its Atlanta headquarters as they opened a San Francisco and New York office. With the alleged new investment, BitPay could use the funds to move aggressively to market their bitcoin payment solutions to online businesses. Competing against Coinbase, and smaller firms like GoCoin and CoinKite, the merchant payment processing space has become more crowded over the last year, leading to a ‘land grab’ to capture market share in the growing industry. As a result, while BitPay may not have needed additional funding, the cash allows them to intensify their client onboarding and increase of headcount.