Just a month back, some 60 investors, including angel investors and entrepreneurs, banded together to form BitAngels, which was then the first angel network and incubator exclusively formed to raise startups for Bitcoins, and pooled nearly 7 million USD in this digital currency. As of now, to everyone’s surprise, this multi-city angel network has doubled its number of investors within just a month. The new startups by these 60 new angel investors has added around 10 million USD, making BitAngels total startup under 18 million USD.
Last Month at Bitcoin 2013 Conference San Jose, the BitAngels foundation was laid by Engine co-founder David A. Johnston and Marketwire founder/SocialRadius CEO Michael Terpin, further supported by Memory Dealers CEO Roger Ver, Gyft CEO VinnyLingham, angel investor Sam OnatYilmaz and Tradehill CEO JeredKenna.
BitAngels has successfully brought investors who are looking forward to help emerging entrepreneurs in growing their business with Bitcoins as their mode of payments, and has invested the amounts in 20K USD chunks. Even at present, the company had decided to make a whopping 100K USD investment into BlueSeed, an innovative startup community on cruise located few miles from the San Francisco’s coast, yet away from US authorities.
BitAngels has certainly proved that Bitcoin strongly holds its grounds in becoming the next best currency. The regular investment also proves that the currency’s expansion is somewhat optimistic and acceptable to the masses. It is only a matter of time that people begin to use this digital currency for their daily transactions.
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