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Spotlight on Bitcoin Investors

Bitcoin investors sitting round a table looking at bitcoin on a presentation board

The Bitcoin industry is undergoing a significant transformation, driven by visionary Bitcoin investors, such as the venture capital firms Ego Death Capital, Stillmark, and Ten31. These firms are not only fuelling the growth of Bitcoin-centric startups but are also reinforcing the vision of Bitcoin as a foundational technology for a new, decentralised digital economy.

Ego Death Capital, founded by Jeff Booth, Andi Pitt and Nico Lechuga, is a transformative bitcoin-only fund that invests in solutions changing the world, focusing on supporting founders building companies for a global Bitcoin-based system​​. Stillmark, led by Alyse Killeen, is the first Bitcoin-focused venture capital firm, investing in products and technologies that advance Bitcoin’s core principles​​​​. Ten31, whose partners have been involved in Bitcoin since 2013, focuses on bitcoin infrastructure and freedom tech with investments in companies such as Bitcoin mining company Cathedra, Bitcoin custody app Fedi and self-custodial Lightning wallet Mutiny.

The impact of such strategic investments is evident in the Trammell Ventures Partners' analysis. In 2022, the Bitcoin startup ecosystem saw a 52.9% increase in transaction count and a 70.0% rise in the total number of companies funded. Moreover, there was a 13.9% increase in the total capital raised by startups, highlighting the growing investor confidence in Bitcoin-native companies​​.

Comparing Bitcoin with the broader crypto market, the Trammell report reveals a stark contrast. While Bitcoin venture deals surged by 52.9% in 2022, crypto venture deals remained relatively flat, increasing by just 1.02%. This disparity underscores Bitcoin's unique position and resilience in the digital asset space, attracting a distinct class of investors and outperforming the broader crypto market in percentage growth terms, a trend that is expected to accelerate in 2024 after the Bitcoin halving.

This data illustrates the burgeoning strength and distinctiveness of the Bitcoin ecosystem. The focused approach of firms like Ego Death Capital, Stillmark, and Ten31, coupled with the robust performance of Bitcoin in the market, positions Bitcoin not just as a digital currency but as a harbinger of a new economic paradigm, distinct from the broader crypto sector. As these firms continue to invest in Bitcoin-native companies, they are paving the way for a future where Bitcoin's impact extends far beyond its role as a cryptocurrency, cementing its status as a transformative technology for a decentralised world.

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