Once dismissed as ‘the Harlem Shake of currencies,’ Bitcoin has gone from being a temporary trend to a watershed moment in the future of money.
We now live in a world with Bitcoin millionaires. A world in which the Jamaican Bobsled team qualified for the winter Olympics thanks in part to funds raised in Dogecoin, a cryptocurrency that is part Bitcoin, part Internet dog meme. Technology is changing the way we think about money and mainstream investors are struggling to keep up, as they shift from considering virtual currencies as ‘fool’s gold’ to seeing them as the new gold.Indeed, VC investments in bitcoin-related firms rose to $64.9 million across 14 deals in the first quarter of this year, nearly 90% of the money raised last year, according to CB Insights.