Redpoint VC: Bitcoin is Fastest-Growing Area of Funding

AccessTimeIconJul 20, 2015 at 11:36 a.m. UTC
Updated Sep 11, 2021 at 11:47 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Bitcoin is the fastest growing area of startup investment since mid-2012, a venture capitalist at Redpoint has claimed.

In his recent analysis of Mattermark data, Tomasz Tunguz noted that investment in bitcoin companies – closely followed by photo sharing and physical storage startups –  has grown by 151% in the last three years.

 Image via Tomas Tunguz
Image via Tomas Tunguz

However, Tunguz pointed out that bitcoin startups represent a "minuscule fraction" of the total invested funds – receiving just 0.18% of the total funding in the last year.

VC investment in the banking industry has only grown by 65% since mid-2012, but the sector received a 1.85% share of the total number of dollars invested in the last twelve months.

, which has funded 434 companies to date, offers seed, early and growth stage investment to startups.

Tunguz's assertions follow the publication of CoinDesk's State of Bitcoin Report (SOB) Q2 2015, which found that total VC investment in the digital currency space was on the rise, noting an increase of 21% to $832m.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.