Crypto Biz: The crypto industry is more bullish than the Bitcoin charts, Jan. 27–Feb. 2
Is Bitcoin (BTC) in a bull market or a bear market? Has the current market cycle already peaked or can we expect another leg higher? Venture capital funds don’t seem to care either way. They’re too busy building equity in promising blockchain plays.
This week’s Crypto Biz newsletter features two major funding rounds from the world of blockchain, as well as Jack Dorsey’s scathing critique of Mark Zuckerberg’s metaverse plans. We also highlight a company that’s making it easier for employees to start getting paid in BTC.
So, while it’s easy to get bogged down in the bull versus bear narrative, the crypto industry is becoming a lot bigger than just the price charts. Don’t let fear, uncertainty and doubt get you down. And please, don’t sell your Bitcoin to Michael Saylor!
To get a full breakdown of this week’s business news, register for the Crypto Biz newsletter at the very bottom of the page. I’ll be reaching out next Thursday.
Related: Crypto tax calculator CoinTracker valued at $1.3B following $100M raise
All I'm saying is, for all the talk about a crypto bear market, VCs and smart money investors don't seem to care. Some of the VC rounds I'm seeing are absolutely wild. Stay tuned.
You may be thinking, do Series E funding rounds actually exist? Yes, yes, they do. Although very few companies make it past Series C, crypto infrastructure provider Fireblocks has gone a few steps beyond that threshold as it continues to scale its operations. The company raised $550 million in its latest round, bringing its total valuation to a whopping $8 billion. CEO Michael Shaulov explained to Cointelegraph that VC backers recognize that the crypto industry is still in its formative years, making now an ideal time to invest.
Speaking of
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