May 13, 2014

BitBeat: The Emerging Venture-Capitalist Vision for Bitcoin

Posted by in category: bitcoin

By Paul Vigna and Michael J. Casey — The Wall Street Journal

When payment processor Bitpay announced the biggest-ever funding round for a bitcoin company earlier Tuesday it was was Richard Branson’s presence in the investment group that drew the most attention.

But while the Virgin Group chairman’s remarks about Bitpay leading a “currency revolution” were lapped up by bitcoin enthuisasts, we thought the comments from some of the lesser known investors were as, if not more, illuminating. They helped frame what might be called the emerging venture-capitalist vision for bitcoin: That its promise lies in disrupting an antiquated, inefficient and expensive global payments system more than as a revolutionary challenger to traditional currencies.

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