Coinbase Raises $25 Million from Andreessen Horowitz

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

libertyblitzkrieg.com / Michael Krieger / December 12, 2013

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. A $25 million infusion into San Francisco based Coinbase by several VC firms, led by Andreessen Horowitz. Coinbase also announced that it has added core Bitcoin developer Gavin Andresen as an advisor. Coinbase now has 600,000 user wallets and is adding an incredible 10,000 new customers per day.