Bitcoin(BTC)infrastructurefirmBlockstreamisraisinghundredsofmillionsofdollarsinfundingaheadofBTC’snextbigwave.
InapostonthesocialmediaplatformX,Blockstreamconfirmsthatitjustconcludeda$210,000,000fundingroundledbyFulgurVentures.
FulgurVenturesisaventurecapitalfirmspecializinginBitcoinandLightningNetworkstart-ups.
AccordingtoBlockstream,thefundswillbeusedtoquickenlayer-2developments,expandBTCminingoperationsandcontinuetogrow“oneoftheworld’slargestBTCtreasuries.”
SaysBlockstreamCEOAdamBackonthesuccessfulfundraisingroundandtheadditionofanewexecutive:
“ThisfundraiseispivotalinourjourneytobridgeBitcoinwithbroaderfinance.
We’reexcitedtobringonMichaelMinkevichasCOO(ChiefOperationsOfficer),andtohaveFulgurVentures’supportinadvancingBitcoinfinance.”
The$210,000,000financingroundwasclosedinconvertiblenotes,short-termdebtinstrumentsthatcanbeconvertedintoequity(shares)inacompanyatalaterdate,usuallyduringafuturefinancinground.
Accordingtotheannouncement,thisfundingroundisconsideredacrucialstepinBlockstream’smissiontoconnectBitcoinwiththebroaderfinancesector,potentiallyhavingsignificantimplicationsforthefutureofBitcoinandthefinancialindustry.
dailyhodl.com