Tuesday, December 8, 2015

Barry Silbert slows down Bitcoin Deals, Invests in Purse.io

Despite reports of Digital Currency Group slowing down their investment deals, the group, which is allegedly building the largest investment fund in crypto currency and may have contributed to the recent rally in Bitcoin price, led the seed round for Purse.io this week, an investment that raised $1 million dollars for the fledgling bitcoin startup.  

The round was joined by TA Ventures and Flight.vc.  As DCG’s Director of Investments Ryan Selkis said a few weeks ago at Money 20/20 in Las Vegas, “Recently, we haven’t made as many investments in bitcoin.”  However, despite this announcement and the general slowdown in Bitcoin venture capital investments, the firm said on Twitter that they “are excited to support @PurseIO as they work on projects ‘to bring new value to consumers and partners.’”

Purse recently announced a secret bitcoin project known only as Project Tritium.  The company did not announce any details, but recently launched a landing page at WhatIsTritium.com for those who would like to know more.