The Circle Makes a $9 Million Bitcoin Investment

The Circle Makes a $9 Million Bitcoin Investment

Just recently the Wall Street Journal stated that Bitcoins might not get very many investments for awhile but it looks like they spoke to soon. The Boston based Circle Internet Financial Inc suddenly appeared out of nowhere on Thursday and they made the announcement they have raised $9 million from Jim Breyer, General Catalyst Partners and from Accel Partners.

The service is expected to launch circle.com and when it goes into beta they will start accepting sign-ups. Allaire said that purchasing the url was expensive and getting the domain was a hard process. A week after everything was settled someone asked “Did you know that Dave Egger had a new book out?”

Allaire started learning a lot about Bitcoins around a year and a half ago. He had read many articles about Bitcoins and kept up with it in the media. He said a lot of people started talking about it and it became the “chatter and buzz”. He also stated that he has been working hard on building his online platforms over 20 years and always works on making sure things are at the top. When he reviewed Bitcoin and found that the ecosystem was starting to emerge it then started to suddenly struck him that this opportunity could be global.

The investors from Circle who have helped with funding Brightcove all agreed. The entry from Circle helps with adding towards the market another company who is serious about funding and also attempting to take on Bitcoin.

Jacob Farber of Perkins Coie said that the Bitcoin industry has changed a lot and has undergone a remarkable evolution just within this past year. It has changed from just a small group of adopters who joined in early to business people who are serious with helping out the funding.

Investor Jim Breyer also said to the New York Times that he is confident that there will soon be a lot of worldwide retailers that will start adopting the system .

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