🟩 Bitcoin native startups raised $343M in 2022
TVP just dropped some bombshell research on Bitcoin-native startups blowing up as a hot venture capital category.
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Bitcoin native startups raised $343M in 2022
TVP just dropped some bombshell research on Bitcoin-native startups blowing up as a hot venture capital category. Seriously, they crunched two years of data and found out that these bad boys are on the rise despite the bear market and a not-so-friendly macro climate. And guess what? Lightning Network and other tech marvels are making Bitcoin the ultimate decentralised playground for entrepreneurs. We're talking about a future in which the Bitcoin-native startup ecosystem will skyrocket like there's no tomorrow.
Let's break down some of the juicier findings, shall we? Even with the market throwing curveballs, the Bitcoin startup transaction count increased between 2021 and 2022. More capital raised, funding rounds, and unique companies are all happening. Bitcoin native startups raised $343M in 2022 compared to $301M in 2021. But check this out: Bitcoin projects got less than 2% of all venture deals compared to other crypto projects, even though Bitcoin's still the big boss in market cap. And despite the total crypto market cap going down, Bitcoin-native startups saw a massive 52.9% growth in deal count year-over-year. I mean, talk about resilience!
The cherry on top? The Lightning network's capacity is consistently growing, while BTC on crypto rails is taking a nosedive. But get this: the report says there's a "severe misallocation of capital for companies building a sustainable monetary order for the Internet Age." In other words, people aren't putting their money where their mouth is, and it's about time we start giving these Bitcoin-native startups the attention they deserve. Let's get it together, folks!
Source: The Emerging Bitcoin-Native Venture Capital Landscape - TVP
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