A new Bloomberg report indicates that bitcoin exchange Bitstamp has received an investment of approximately $10 million from Pantera Capital Management LP, a hedge fund that handles money for executives at Fortress Investment Group some time in late 2013.
That pegs the funding as one of the largest in the bitcoin realm. The investment, led by Pantera’s own Dan Morehead, came soon after an invite-only retreat in Lake Tahoe in which Morehead invited 30 entrepreneurs in the bitcoinosphere to discuss his plans. Bitstamp CEO Nejc Kodric being one of them.
It’s a highlight of just how closely Silicon Valley is working in this new and emerging space to build large-scale and reliable businesses.
Business in the bitcoin realm really began to take off in early 2013, when the value of bitcoin started its exponential climb. Certainly, this is not the last we’ll hear of big investments in bitcoin businesses. [sources, additional reading: Bloomberg, CoinDesk]