More Than 60 Investors Form BitAngels, Meant For Bitcoin Startups

Bitcoin finally seems to be gaining momentum in the cyber arena. Although the virtual currency has suffered many setbacks, it is now being increasingly used by more and more vendors and users. Recently, more than 60 investors have joined hands to create BitAngels, which will serve as an incubator for Bitcoin startups.


The sheer number of investors that are pitching in for BitAngels serves to show that the interest of the industry as well as prospective entrepreneurs, at large, has been captured by Bitcoin. BitAngels, we have been told, is the first of its kind multi-city angel network.

Interestingly, most of the investors who are part of this venture already have substantial amounts of Bitcoin. Some of them actually mined them while others were able to lay their hands on them while prices were still low, so they are now the fortunate few who have made big on their early Bitcoin acquisitions.

As far as the incubation for Bitcoin ventures is concerned, the network will be opening up three office locations around U.S., where mentorship and support will be provided to such entrepreneurs who intend to launch Bitcoin related ventures.

The fact that BitAngels is a distributed network makes it a tad bit hard to comprehend for many. However, in many ways, it is the first of its kind network and will make Bitcoin more mainstream in the tech arena, attracting even more startups based on the virtual currency. So if you have plans of putting some entrepreneurial spin on Bitcoin currency, you may want to look up BitAngel.

Source: BitAngels

Courtesy: TechCrunch

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Salman Latif is a software engineer with a specific interest in social media, big data and real-world solutions using the two.Other than that, he is a bit of a gypsy. He also writes in his own blog. You can find him on Google+ and Twitter .

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