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VC investment in bitcoin IT companies first took off in 2013 (2012 counted only three deals totaling $1 million). Since then, bitcoin startups have racked up 65 financings totaling about $270 million, according to the PitchBook Platform. The value of bitcoin skyrocketed from about $200 apiece to over $1,100 last November, so it makes sense that the end of 2013 saw increased activity—$41 million of the year’s $71 million capital invested total was raised in 4Q. Yet sizable fluctuation in the cryptocurrency's value could be the reason why most of the VC invested has been in a few of the bigger, more reliable bitcoin payment and processing platforms: BitPay raised just over $30 million in May, Coinbase secured $25 million last December, and Xapo raised $20 million rounds in March and July.
To see the full list of bitcoin IT companies to receive funding over the last few years, as well as which VC backers are making the investments, click here.