The Phaserl


Coinbase Raises $25 Million from Andreessen Horowitz in Largest Bitcoin Investment To-Date

by Michael Krieger, Liberty Blitzkreig

As I tweeted at the time, I think Bitcoin began phase two of its growth and adoption cycle upon the conclusion of the Senate hearings last month (I suggest reading: My Thoughts on the Bitcoin Hearing).

I think phase two will be primarily characterized by two things. More mainstream adoption and ease of use, as well as increasingly large investments by venture capitalists. In the past 24 hours, we have seen evidence of both.

First, yesterday we heard that Fidelity will allow its clients to invest in Bitcoin through SecondMarket’s fund in their IRAs. Today, we learn of the biggest investment in Bitcoin to-date.

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2 comments to Coinbase Raises $25 Million from Andreessen Horowitz in Largest Bitcoin Investment To-Date

  • Ed_B

    Personally, I do not see what all the flap over Bitcoin is about. First, it would be naive in the extreme to think that the US Gov could not hack the Bitcoin system with the computing resources available at NSA. Second, from the treatment received by Bernard von Nothaus over the “Liberty dollar” coin, it is clear that the US Gov is VERY protective of its fiat system and will oppose ANY threat to it. Third, a digital currency is the dream of every tyrant and would-be tyrant out there. It is so easily monitored and controlled. Creating such a system in the mistaken belief that it isn’t Gov approved or its outside the purview of the Gov is merely doing their leg-work for them. If they do not create such a system of their own, they will soon co-opt one and Bitcoin looks like it is just about picking size.

    Gold and silver, silver and gold,
    So pretty to look at, a delight to hold

    Bitcoin? Well, not so much.

  • Wayne

    First off, I hold physical of both. Cannot argue that point. I will not sell either. Wait till the manipulation is no more!!! However, Bitcoin, or any other of the 44 (I believe based on charts) crypto currencies presents a problem for the Feds. They can do whatever they want to one and others will pop up. The cat is out of the bag and won’t go back. Other countries are embracing the cryptos. And although China’s banksters said no (under gov’t pressure), it did not quell the enthusiasm and it has taken off there. Here in Canada we have our own exchange, and they deal with Canadian citizens ONLY (AML, and Know you client) and are treating it like a regular stock exchange and are dealing with a bank. That is not to say there will not be issues, but outside the bubble that is the USA, it is receiving a “warm” reception. On the Keiser Report, a professor from a Cyprus University is lobbying the Government to become the Hub of Bitcoin. Come on over and bring your companies and set up….That is encouraging.

    BUT, as you say, beware the NSA, CIA, FBI, and whatever other MAFIA bullies the USSA will send its way. That there is no doubt…American citizens are slowly (not fast enough IMO) coming out of the spell the Government has cast upon the fine people south of us.

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