BitLife’s $1bn investment in a blockchain startup reveals the real-world power of the blockchain
Next Big Futures, December 13, 2019 14:21:19 BitLife Inc. (NYSE: BTL), the company behind the world’s largest cryptocurrency wallet, BitGo, announced its first round of venture capital funding.
The round was led by New York-based Andreessen Horowitz, led by Andreessen, and includes additional investments from the likes of Sequoia Capital, Draper Fisher Jurvetson, and other institutional investors.
BitGo’s co-founder, Mike Novogratz, said that the new round will be used to accelerate the company’s growth, while further developing its blockchain technology.
BitLife is an early-stage blockchain startup that enables users to spend bitcoin on services, and BitGo has built a community of more than 1 million users.
BitGO launched in August of this year, and its goal is to build an industry-leading platform for digital currencies, while providing financial inclusion and fairness.
Bitgo is currently focused on building out its own network of blockchain integrations, but the company plans to continue to invest in blockchain technologies in the future.
Bitlife CEO Michael Krieger said that BitGo was able to achieve its vision of making the bitcoin payment network more accessible to the public, and was excited about BitGo joining the team.
BitPay CEO Jaron Lukasiewicz said that he was impressed with BitGo and its commitment to bringing bitcoin payments to more people.
The BitGo team is also well known for its ambitious vision of the world as a digital cash system.
The company was founded by former Microsoft CEO Satya Nadella in 2015.
Nadell recently said that bitcoin would be replaced by an asset class similar to gold.
The new investment will give BitGo the ability to hire more developers and engineers, as well as focus on expanding its customer base.
Bitpay is one of the largest providers of bitcoin debit cards, which allows users to withdraw money at participating merchants.
The startup is now the largest provider of bitcoin cash (BCH) and btc-e cards, and it has also invested in a number of other cryptocurrencies.
Nadeslla also said that there are plans to offer btc cash cards to consumers.
The co-founders of BitPay also said the new funding will help the company make it easier for people to buy bitcoin, but that it will not replace bitcoin’s existing functionality.
The decision to go public was not easy, as BitGo had to raise significant amounts of capital to do so.
In addition to Nadello and Kriegers, the investors are also represented by Alex Ochsner and Ben White, who are partners in a venture capital fund called MIR.
This funding is part of a broader $2bn round for the company.
In a press release, the company said that its goal was to be the leading cryptocurrency wallet for people, and that it was focused on making it easier to spend bitcoins.
BitGuru wrote about BitLife and BitPay at Next BigFuture: BitLife announced its $1 billion investment in BitGo in August.
Bit Go’s founder, Mike Nadelly, told Next Big that the company had “successfully scaled up from zero to 1 million active users” and that Bit Go was “one of the first companies to fully implement a robust platform and user interface” and “the only one to be in direct competition” with the likes “PayPal and Coinbase”.
“This investment in the BitGo wallet is another great example of our continued commitment to blockchain technology, which is one reason why we have a $3 billion round of funding to further our mission to make the bitcoin payments network more affordable and accessible to more users,” said Kriege.
Bitguru added that Bitgo has a solid product that it plans to roll out, but is still in the early stages of development and is looking for additional funds to continue its growth.
In fact, the BitPay team said that it had “never seen so much investment from an investor in one of our projects, and we are excited to have been chosen.”