INTERNET ANALOGUE

The current $295 million run rate is over 2.9x the sum invested in 2013 and 29x the amount invested in 2012. Bitcoin venture capital investments are outpacing the investment rate of internet companies in 1995. The impact of this capital influx will be an increase in the general quality and caliber of the Bitcoin ecosystem’s companies and entrepreneurs.

Internet vs Bitcoin Funding

Just for fun… some of the companies funded in 1995 include Yahoo!, Amazon, and eBay.

Ultimately, we believe Bitcoin startup funding should have a strong positive impact on the industry’s future. Increasingly well-capitalized startups will continue to generate novel, cost-cutting, and interesting use cases for Bitcoin — ideas and applications that will encourage adoption over the medium-term.

Few groundbreaking technologies reach maturity without a chorus of criticism along the way. Bitcoin is no exception. The Bitcoin naysayers of today are like the internet naysayers of the early 90s. The first years the internet was slow and had almost no consumer-friendly programs. The 14k, 8,000 band dial-up modem (“Pshhhkkkkkkrrrr​kakingkakingkakingtsh​chchchchchchchcch​*ding*ding*ding*”) is today’s bitcoin. Eventually developers built then-unimaginable applications on top of the TCP/IP protocol. The same is likely to happen with the Bitcoin protocol. We believe, over time, applications will make it as useful as other important technology innovations.

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