Bitcoin Mania

Brooklyn-Based Bitcoin Startup BitInstant Raises Seed Round

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Brooklyn-based BitInstant, a startup that provides temporary credit in order to make Bitcoin transactions faster, has raised an undisclosed sum of seed funding from an angel investor. “We sold 15 percent of our company to Roger Ver, CEO of MemoryDealers, which is probably the largest used computer parts site on the West Coast,” co-founder Charlie Shrem told Betabeat by Gchat.* “He bought in for an undisclosed sum and is now our director of marketing and Asian operations, as he’s based in Tokyo.”

The original plan was to have three or four investors, but Mr. Ver offered in full and wanted to be on the team, Mr. Shrem said. “An offer I could not refuse!” Read More