The decline in Bitcoin price spelled trouble for some bitcoiners, if not most. The market even saw a few bears who eagerly sold their bitcoins to eventually profit from the sharp price slump of the digital currency. However, this evident devaluation of Bitcoin proved to be nothing but another day in the cryptocurrency world as Bitcoin investors and the Bitcoin casino market seemed to be unfazed by it.
Amid the continuous struggle of the Bitcoin price index, a number of Bitcoin companies and startups recently received a hefty amount of funding from several investors.
Blockchain.info, currently the most popular Bitcoin wallet provider, has been granted US$30 million through a Series A funding round led by Lightspeed Venture Partners and Wicklow Capital.
Blockchain has been reported to use the new investments to expands its two teams—product and engineering—as well as extend their presence in developing markets. With already 2.3 million wallet accounts with about US$26 billion of transaction volume, Blockchain is expected to step up its services sooner than anyone can think.
However, this Bitcoin wallet provider is not the only company that benefited from the series of Bitcoin funding despite the digital currency’s price fall. South Korea-based startups like Devign Lab (Coinone) and Coinplug recently secured US$200,000 and US$2.5 million funding, respectively.
Likewise, Snapcard is set to broaden its project with the US$1.5 million investment provided by Tim Draper, who is also actively involved in the investment round of Coinplug.
SolidX also received a total of US$3 million in funding, but it was Beepi, an online peer-to-peer car sales platform that accepts Bitcoin, that bagged the largest investment through its Series B funding, amounting to US$60 million.
The successful funding rounds for these brands goes to show the trust of investors on the digital currency, which may now be perceived to have a more mature ecosystem. Along with the favorable results of investment initiatives, the Bitcoin casino market continues its growth as more bettors wager and play various Bitcoin casino games on different betting websites.
New casino brands have also been launched, together with the series of updates unveiled by the fresh and established platforms. More Bitcoin casino bonus and promotions were also released by some of the key brands in the market, and this clearly suggests that fun and entertainment in online gambling using the digital currency will stay alive despite the hiccups in the value of Bitcoin.