Coinbase Caps Off The Year Of Bitcoin With $25 Million Funding Round


Coinbase, a Bitcoin wallet service, raised $25 million in VC funds earlier this week — the largest Bitcoin-based investor round yet, according to VentureBeat.

Andreessen Horowitz led the round, and our ol’ pal Chris Dixon — who has previously said that mainstream media critics of Bitcoin “don’t know what they’re talking about” — will be joining Coinbase’s board.

Coinbase is currently America’s most popular Bitcoin service, with over 600,000 ‘wallets,’ and is the exchange of choice for sites like Reddit, OkCupid and Khan Academy which have begun accepting Bitcoin.

What other Bitcoin ‘wallets’ are there, you ask? Well, if you want to support The Winklevoss Twins, you could opt for BitInstant, which Cameron and Tyler recently rallied to raise over $1.5 million. Or, you could check out BitPay, which Silicon Valley mega-investor Peter Thiel helped inject with $2 million in startup funds.

Or, you could look back to last week’s price plummet — from over $1,250 to $680 apiece — and keep your rainy-day funds away from crypto-currencies….at least during the holiday season. Your daughter needs that teddy bear more than you need a Bitcoin.