We decided to accept bitcoins. (Our favorite cafes like Coupa Cafe and Cafe Venetia accept them.) Our product is this site but you could help us keep going if you have some extra bitcoins in the electrons to share. We sure do appreciate it.
Will bitcoins be THE most disruptive innovation? Maybe. Will they crash and burn? Maybe.
I don’t know but we like to be where new, new things are because the old, the current and the near future aren’t looking so great.
Coinbase has raised $25 million in a Series B round led by Andreessen Horowitz in the largest funding to date for a company focused on the Bitcoin digital currency. Existing investors Union Square Ventures and Ribbit Capital also participated.
The round brings the total raised by Coinbase up to $31 million.
Coming out of Y Combinator last year, Coinbase provides a wallet and payment processor for merchants, analogous to what PayPal created a decade ago to provide a simple online means for transactions.
Coinbase now has around 600,000 consumer wallets, according to co-founders Fred Ehrsam and Brian Armstrong. That’s up from 130,000 it announced in May alongside its first venture round of $5 million from Union Square Ventures.
READ OUR BITCOIN MYSTERY PAGE: MYSTERY