Blockchain generates more than $ 40 million for Google Ventures, Virgin Group and others.

Blockchain, the launch of the startup cryptocurrency, known for its Bitcoin wallet and Block Explorer has announced another round of successful funding. The company has raised $ 40 million in the investment round led by Lakestar Venture Capital. Other prominent names that join the round include Google Ventures (GV), Richard Branson of Virgin Group, Nokota Management, Digital Currency Group, Lightspeed Venture Partners, Mosaic Venture Partners and Prudence Holdings.

It is reported that the new round of investment comes at a time when Bitcoin is close to its record high of around $ 3000, which it recently reached. The growing interest in Bitcoin and the urgency of implementing blockchain reforms in the Bitcoin network presents many opportunities for the company. According to the company, the new round of investment will be devoted to the expansion of labor and research and development. Passing through Blockchain CEO Peter Smith’s statement, the company will soon have more offices established in different parts of the world.

Smith described an increase in demand for its products among members of the cryptocurrency community, as the price of the digital currency rose to record levels in recent months. The financing will allow the company to meet the growing demand for scalability and expansion of its infrastructure. Peter Smith was quoted by a leading financial news source as saying:

“We are really focused on scaling and expanding to meet the record demand that we are getting on the market”. We started to raise this round before the race at the cryptomarket, it was a good time at the end because while we were closing the round, we were massively in all Our traffic has been growing 15 percent week after week in the last two weeks. ” There are very good prospects of growing to historical highs.

Blockchain already has more than 15 million wallet entries with users transacting for billions of dollars a month. The company had previously raised funding of about $ 30.5 million in 2014.

In summary there are very good prospects in market growth for Bitcoin, on blockchain technology, companies are already aware that it is a new way to find financing. New ads are expected.


Warning: CryptoSolutions is not responsible for the opinions expressed in this article. The ideas and opinions expressed in this article do not represent a business opportunity of any kind and the reader should be properly advised before making a financial or legal decision.

You may also like