While Bitcoin has captured the interest of the tech-savvy crowd, it is only gaining momentum among mainstream users, thanks to services that offer mobile and electronic wallets, as well as merchant payment gateways. BlockChain, for one, has recently raised a $30.5 million series A funding round, which it intends to use for making Bitcoin more accessible to the masses.
Institutional investors consider investments into companies that cater to Bitcoin’s periphery, such as wallet and merchant services, as more sound than speculation in Bitcoin itself, which is volatile due to its de-centralized nature. High-profile investments in Bitcoin-related startups, therefore, bring credibility to the cryptocurrency as a viable business. However, Bitcoin and other virtual currencies will need two basic things to ensure more widespread and mainstream acceptance: ease-of-use and stability.
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