Bitcoin (BTC) has gained significant momentum over the past year. Aside from hitting close to $1,200 at the end of 2013 and merchants across the globe getting on board with the cryptocurrency, a new report has found that angel investors, otherwise known as BitAngels, have poured about $7 million into 12 different bitcoin (BTC) startups over the past year.
Some of the companies that have received funding from BitAngels consist of CoinTerra, MSC Protocol, GoCoin, Blueseed and Cash Into Coins. It is now estimated that there are roughly 300 BitAngel leaders in 23 countries, such as Chicago, Tel Aviv and Shanghai.
“It has been an incredible time for bitcoin since the May 2013 bitcoins show in San Jose, and it has been an even more incredible one for BitAngels,” David A. Johnson, co-founder of Bitcoins, in a statement issued to CoinDek. “Like the digital currency itself, BitAngels had small beginnings, but we expect that we’ll head straight to the moon, which might be the one place where BitAngels doesn’t have a presence right now.”
It is believed that countries that have experienced serious financial collapse in recent memory, like Argentina, Cyprus and Iceland, could be the best places to establish bitcoin technology. In Argentina, for instance, inflation is so high and rampant that people are already converting their pesos into bitcoins as well as luxury goods to protect and maintain their wealth.
The future plans will be pursuing new BitAngels and additional investment opportunities. Therefore, the organization is urging investors to contact them to take part in this endeavor, no matter what country they reside in.
This report comes as Google accidentally made it known to the world that it is exploring a potential bitcoin integration initiative. The company attempted to retract its remarks, but the damage had already been done.
“We are working in the payments team to figure out how to incorporate bitcoin into our plans,” wrote Google Senior VP of Ads and Commerce Sridhar Ramaswamy in an email to Forbes and first reported on Reddit.
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