Bitcoin (BTC) infrastructure firm Blockstream is raising hundreds of millions of dollars in funding ahead of BTC’s next big wave.
In a post on the social media platform X, Blockstream confirms that it just concluded a $210,000,000 funding round led by Fulgur Ventures.
Fulgur Ventures is a venture capital firm specializing in Bitcoin and Lightning Network start-ups.
According to Blockstream, the funds will be used to quicken layer-2 developments, expand BTC mining operations and continue to grow “one of the world’s largest BTC treasuries.”
Says Blockstream CEO Adam Back on the successful fundraising round and the addition of a new executive:
“This fundraise is pivotal in our journey to bridge Bitcoin with broader finance.
We’re excited to bring on Michael Minkevich as COO (Chief Operations Officer), and to have Fulgur Ventures’ support in advancing Bitcoin finance.”
The $210,000,000 financing round was closed in convertible notes, short-term debt instruments that can be converted into equity (shares) in a company at a later date, usually during a future financing round.
According to the announcement, this funding round is considered a crucial step in Blockstream’s mission to connect Bitcoin with the broader finance sector, potentially having significant implications for the future of Bitcoin and the financial industry.
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/VAlex/Sensvector
Source link
Daily Hodl Staff
https://dailyhodl.com/2024/10/15/blockstream-closes-210000000-in-funding-to-accelerate-development-ahead-of-next-bitcoin-cycle/
2024-10-15 22:01:28
