News

Blockstream Secures $210 Million in Funding

Blockstream Secures $210 Million in Funding


Blockstream, a leading Bitcoin (BTC) infrastructure company, has raised $210 million in a successful funding round led by Fulgur Ventures, a venture capital firm focused on Bitcoin and Lightning Network startups. This influx of capital comes as the company gears up for the next wave of Bitcoin activity.

The new funding will enable Blockstream to accelerate the development of layer-2 solutions, expand its Bitcoin mining operations, and grow its already substantial Bitcoin treasury, one of the largest in the world.

Adam Back, Blockstream’s CEO, expressed his excitement about the capital raise and welcomed Michael Minkevich as the company’s new Chief Operations Officer. Back emphasized the importance of this funding in advancing Blockstream’s mission to integrate Bitcoin with the broader financial system.

The $210 million was raised through convertible notes, a flexible financing instrument that allows for conversion into equity during a future funding round. Blockstream sees this investment as a crucial step towards bridging Bitcoin with traditional finance, with the potential to reshape the future of both the cryptocurrency and the financial industry.

Become the smartest crypto enthusiast in the room

Get the top 50 crypto definitions you need to know in the industry for free

Disclaimer: Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.



Source: https://changelly.com/blog/blockstream-secures-210-million-in-funding-to-drive-development-ahead-of-next-bitcoin-cycle/

Leave a Reply

Your email address will not be published. Required fields are marked *