SOURCE: BitAngels

BitAngels

January 22, 2014 13:00 ET

BitAngels Goes Global, Closing $7 Million (7,000 BTC) in Funding for Bitcoin Startups

The Now International Supergroup of Bitcoin-Oriented Angels, With a Network Extending Across 23 Countries, Has Funded 12 Different Startups

AUSTIN, TX--(Marketwired - Jan 22, 2014) - BitAngels (http://www.bitangels.co), the first international multi-city business incubator focused solely on early-stage startups disrupting through Bitcoin-based initiatives, today announced that it has invested $7 million (7,000 BTC) in 12 different Bitcoin startups since May 2013. Those startups have included Bitcoin layer "MSC Protocol," Bitcoin payment platform GoCoin, Seasteading incubator Blueseed, Bitcoin instant exchange Cash Into Coins and Bitcoin mining hardware company CoinTerra. The BitAngels have nearly $50 million in Bitcoins soft-circled by its now 324 angels across the globe ready to be invested in Bitcoin startups.

"It has been an incredible time for Bitcoin since the May 2013 Bitcoins show in San Jose, and it has been an even more incredible one for BitAngels," said co-founder and Executive Director David A. Johnston. "Like the digital currency itself, BitAngels had small beginnings, but also like the digital currency, we continue to expect that we'll head straight to the moon, which might be the one place where BitAngels doesn't have a presence right now."

The BitAngels came together at the Bitcoin 2013 Conference in San Jose last May. With what was once just a member count of 50 in just Austin, San Francisco, and New York, the BitAngels now count over 300 angels spread out over 23 countries among its support ranks. BitAngels has city leaders spread out across the globe, including Chicago, Hong Kong, London, Shanghai, Singapore, Stockholm, Sydney, Tel Aviv, Tokyo, and many others. Prominent angels leading the network include Gyft CEO Vinny Lingham, Memory Dealers CEO and "Bitcoin Jesus" Roger Ver, Robocoin Asia Chairman Brock Pierce, and Tradehill CEO Jered Kenna.

"We're continuing to aggressively pursue both new angels and new investment opportunities wherever they might be," said co-founder Michael Terpin. "Bitcoin continues to be a space that is growing constantly, with new ways in which it is touching our day-to-day lives, and BitAngels is going to be an integral part of that continuing development."

For Bitcoin-related funding and investing opportunities with BitAngels, please visit http://www.bitangels.co.

About BitAngels
Co-founded by David A. Johnston, Michael Terpin and Sam Onat Yilmaz, BitAngels is the world's first distributed veteran entrepreneur and angel investor group. Focused on funding the most compelling companies in the digital currency ecosystem and matching them with the most experienced experts in the Bitcoin economy, BitAngels is made up of over 300 different angels, controls over 50,000 BTC and maintains a presence across the globe in 23 different countries. Interested startups and investors may learn more by visiting http://www.bitangels.co.

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