A large number of Silicon Valley talent very close bitcoin industry

A large number of Silicon Valley talent very close bitcoin industry

“Financial Times” reported that the Silicon Valley elite seems to speed up very close to the bitcoin industry, Silicon Valley VCs queuing bitcoin investment enterprises. In July 10th, $20 million in a new round of financing some Silicon Valley figures XAPO weight shares. In the list contains at least VCs (Greylock Partners) Reid like Hoffman, Volpi, Mike index of Vc firms funded Max Levchin, Yuri Milner and YAHOO CEO and co-founder of Yang Zhiyuan.

XAPO is the “Wall Street journal” called “bitcoin storage, the Fort Knox” completed its first $20 million in a new round of financing in March of this year, Benchmark Matt Cohler led the first round of financing. Behind the XAPO entrepreneur Wences Casares said, in the first round of financing success attracted strong interest from other venture capitalists, and XAPO decided to start a new round of financing.

Silicon Valley venture a large number of points to a problem: This is just the Silicon Valley to the continuous development of encryption currency confidence reflected it, if this is the case (and I believe), the Silicon Valley venture capitalists simply buy bitcoin is not on the line? Perhaps Silicon Valley is considered a cornerstone of bitcoin global financial services industry as a high profit, the new. It is possible, because there seems to be a huge driving force to promote the investment of encryption currency. Before investing in start-ups crypto currency Silicon Valley investors including Andreessen Jim, venture capitalist Marc Breyer and Tim Draper.       

Volpi described his feelings: “bitcoin bitcoin has withstood the test again, failures, government restrictions, hacker attacks and security vulnerabilities, including the volatility of large Mt Gox exchange, or even criminal arrest. Although bitcoin these challenges in the past 12 months, but bitcoin prices still increased by nearly 10 times.”

If Silicon Valley venture capitalists are correct (and they are usually correct), bitcoin market size will rise dramatically. In theory, there are less than 13 million coins on the market. There is a certain proportion of the bitcoin has been lost and damaged, therefore, the market value of all bitcoin current up to $8 billion. There are currently more than 100 thousand retailers to accept bitcoin payments, choose to keep or use bitcoin and investing in alternative encryption currency more and more people.

The number of bitcoins will never exceed 21 million, if bitcoin is regarded as a new financial service, then this may prove to be a limiting factor. When the Tim Draper6 month to buy U.S. marshals bitcoin auction, he explained his bitcoin view: “five years from now, bitcoin prices will be higher or lower than the current lot.”


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