TLDR:
– Multicoin Capital led a $7 million seed funding round for a Bitcoin-native application platform called Arch Network
– The recent growth of the Bitcoin ecosystem is prompting major VC firms to explore its opportunities further
In the article “The Funding: Inside the record VC rush to Bitcoin” by Yogita Khatri, it is highlighted that Multicoin Capital recently invested in Bitcoin-related projects, such as Arch Network and Mezo. This demonstrates the increasing allure of Bitcoin within the VC community. With the emergence of new tech advancements like Taproot upgrade and the Ordinals protocol, developers are finding it more attractive to build financial tools on Bitcoin, leading to a surge of innovation and more VC investments.
The VC rush to Bitcoin is evident with over 90 deals related to Bitcoin recorded this year, marking the highest number ever recorded in Bitcoin’s history for a single year. Despite Bitcoin’s limited programmability compared to platforms like Solana and Ethereum, major VC firms like Multicoin Capital are actively exploring and investing in the Bitcoin ecosystem. This trend signifies a growing interest and investment in the potential of Bitcoin beyond just BTC.
