Major Financial Institutions Show Support For Bitcoin by Investing in Coinbase

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Coinbase, the self-proclaimed world’s most popular bitcoin wallet provider, announced on January 20th that it raised $75 million in a Series C financing, which brings Coinbase’s total capital raised to $106 million.  The round was led by DFJ Growth, but also included three mainstream financial institutions: The New York Stock Exchange,
a subsidiary of USAA, and BBVA.  Existing investors, including Andreessen Horowitz, Union Square Ventures, and Ribbit Capital, also participated in the financing.  This significant investment is a positive development for Bitcoin and Bitcoin-related companies after the value of Bitcoin has taken a big hit over the past several months.  This investment may be a sign that major financial and venture institutions are willing to bet on the future of Bitcoin and other digital currencies.