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Bitcoin startup raises record $25 Million from top venture capital firm

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Bitcoin startup raises record $25 Million from top venture capital firm Andreessen Horowitz. A San Francisco-based startup, Coinbase is the lucky recipient of the round of funding. According to Forbes on Dec. 12, 2013, this is a Series B round of funding in addition to $6 million that the company previously received from other investors.

"On top of a Series A from Union Square Ventures and Ribbit Capital, it makes Coinbase the most-well-funded start-up in Bitcoin, with a total of 31 million real world dollars sunk into it."

The additional funding makes Coinbase flush with cash in a growing field. The company has been showered with more cash than anyone else in the business. Add to that, by some of the smartest minds in venture capital investing.

Coinbase is an alternative currency exchange, which provides both online wallets and offline storage for their customer’s funds. They are one of the top Bitcoin exchanges in the world today. The difference is that they are also based in the United States. All of the other major exchanges are based overseas. For U.S.-based customers this can be a big plus as the company is subject to the nations strong financial regulations.

2014 is already being dubbed the year of the Bitcoin economy. Coinbase is poised to take the lead in the New Year.

What do you think about the Bitcoin startup raises record $25 Million story? Please drop in your comments below.

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