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Goldman and IDG Put $50 Million in a Bitcoin Startup Company Circle!

Posted by: on May 1, 2015 | No Comments

Circle Internet Financial (Circle) a startup of virtual Bitcoin products that allow consumers to easily convert, store, send, and receive digital currency has raised $50 million from investor firms which include Goldman Sachs Group Inc..This brings the startup investment group to include a Chinese investment firm and IDG Capital among the current investors. Circle was founded by serial entrepreneur and creator of the video online platform Brightcove Jeremy Allaire. With Circle, Jeremy is working to bring Bitcoin cryptocurrency to a more open and mainstream audience. With the new war chest of capital Circle can work toward bringing new customers to its platform. With customers shaky on the volatility of virtual currency prices and ominous regulation make it somewhat difficult to obtain new users, but with this new infusion of capital will help market the Circle platform to a bigger audience.  The Circle Team has a vision and see a future with its virtual currency platform being the front runner to a new way to engage and improve current currency networks.

“Circle Internet feels that opportunities for transforming payments and finance are as profound today as the opportunities were in 1993 to transform media, communications and commerce with the Web”.

Goldman Sachs investment will definitely give Circle Internet virtual currency platform remarkable creditability to potential future customers. Will this investment pull in more top US investment firms to back other Bitcoin startups is uncertain but what is clear is that this investment Circle gives market confidence to Bitcoin and possibly other cryptocurrency. With Bitcoins murky history and the lack of the Chinese government to support the virtual currency this deal could legitimize the currency and make the once popular currency return to popularity it once held in earlier 2013. The world is more integrated and the infrastructure that handles the money is still out-of-date and in need of a major upgrade. I’m curious to see how things progress for the Circle platform because the economy continue to evolve. The new economy for virtual currency will require a model that better compliment our ever changing world.

Do you think Bitcoin and other virtual currency is the new currency of the future? Share your thoughts in the comments.

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