After the collapse of Mt. Gox, investors have shown their concern about the security of their funds and almost all Bitcoin wallet providers have tried to secure them. In this pursuit, even BitGo has gone one more bit and according to a press release by the organization it rolled out the first enterprise-grade “multi-sig” digital wallet to tackle widespread concerns.
Not just security, it has tried to attract investors as well and for that it brought up the new Series A round investor which was led by venture capital firm Redpoint Ventures and included contributions from Radar Partners, Founders Fund, Barry Silbert’s Bitcoin Opportunity Corp. and Ashton Kutcher’s A-Grade Investments.
Investors like Bridgescale Partners, Jeff Skoll, Bill Lee, and Eric Hahn who have invested in the firm earlier, too participated in the round. Now, the company claims that it raised $12 million in Series A financing, and became one of the well-funded companies in the Bitcoin ecosystem.
Security is of Paramount Importance Says Ashton Kutcher
Ashton Kutcher is a Bitcoin supporter for a couple of years and invested in this Bitcoin Company as he hopes it provides safe and secure Bitcoin storage services. He says that people ultimately want to feel like their wealth is safe. Bitcoins themselves are incredibly secure; however the means by which Bitcoins are exchanged and stored can be vulnerable.
He developed his love for Bitcoin more than a year ago when he said that Bitcoins are obviously becoming more and more relevant. He had then said that the fact that people are hacking Bitcoins really hard, it almost hearkens back to when banks first started.
He said that when the banks started they didn’t have safe safes and people were going into the banks and just robbing money out of the safe. According to him it actually validates the value of the money itself and he thinks the fact that a person can buy drugs and ammo with it is actually a validator of the currency itself.
As he sees a bright future in Bitcoin, he has also invested in BitPay and personally started purchasing Bitcoins about a year and a half ago.
Security with Multi-Signature e-Wallet
BitGo’s patent-pending multi-signature e-wallet technology is going to transform the way Bitcoin security is being seen. According to the firm, it could be the solution for institutional investors’ Bitcoin storage woes as well.
To contact the reporter of this story: Deepak Tiwari at firstname.lastname@example.org