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Bitcoin Capital reaches $1-million goal in equity crowdfunding campaign
Posted On 08 Jun 2015
Venture capital fund Bitcoin Capital has surpassed its $1-million mark on the equity crowdfunding platform Bnk to the Future, reported SiliconANGLE.
Launched on May 14, the fund passed the goal last Thursday, six days ahead of the target date.
Run by financial journalist Max Keiser and Bnk to the Future co-founder Simon Dixon, Bitcoin Capital strives to provide investors with a spread of investments covering startups, Bitcoin mining, and digital currency trading.
In an article about the crowdfunding efforts, Tech City News reported that one-third of the money is being invested into Bitcoin mining, which will take place at Bitcoin Capital’s institutional mining rig in Iceland, allowing investors to receive daily Bitcoin dividends from their investment. Dixon said the daily Bitcoin dividends, paid automatically rather than having to arrange hundreds of bank transfers, represents a good case use for how Bitcoin is superior to other means of transactions.
Digital currency startups seeking investment from the fund have to raise small amount of cash through Keiser’s rewards-based platform StartJOIN to showcase their product or service. They will then be expected to crowdfund on Bnk to the Future, after which they will be considered for investment from Bitcoin Capital.
“This give us a good signal that you have a well-rounded team,” Dixon said to Tech City News.
The fund has already made its first investments, including in blockchain technology startup Factom.
Dixon told the news outlet the fund was designed as a test to determine demand for such an investment platform.
“I get a call from a VC every week asking to come and consult on Bitcoin – so we decided to create our own fund,” he said. “There’s a huge appetite to invest in this sector and there’s a clear need to have experts in the industry managing the fund.”
As for rising interest in Bitcoin, Dixon said, “We’ve been saying this is the future all along but now the banks and other institutions say yes, everyone says it’s serious. That’s even though banks haven’t been involved with financial innovation for the past 300 years.”
He added, “I would hate if the end result is that we produce a cheaper, better way for traditional financial institutions to rig the markets cheaper – but I think the true power is for individuals using Bitcoin on a peer-to-peer basis.”
PICISI.com is a crowdfunding startup where campaign organizers will be able to raise funds in fiat AND cryptocurrency. We already have 23 sponsors in place.
The only thing we need to launch is 4 admins to manage the massive endeavor.
PICISI also has its own currency and will hire people from all over the world to promote the site, the sponsors, as well as the campaigns.
How is this different from BnkToTheFuture.com who also allow investors to invest in fiat and Bitcoin and also has a currency to give to investors?
Ta Ying, the two are extremely different, our suggestion and invitation is to appreciate the difference and work together. BnkToTheFuture.com and PICISI can find ways to work together, just like they could also work with StartCoin.