How $459 Billion is being Disrupted by Bitcoin, 20 Illustrative Companies

What is a currency? Currency is a form of money regulated by a given government in your country. It is considered to be centralized and secure. The big question to ask ourselves is do we trust in our Governments? According to Edelman Trust Barometer only 38% of us trust in Government officials or regulators.

With the creation of Bitcoin, Satoshi Nakomoto essentially opened up a pandora box. Creating something which could start challenging the fiat currencies. We have written a lot about how Bitcoin economy is shaking up the world. It was termed at a Ted talk to be the world’s best performing currency. We all know how Bitcoin has taken off in the last year – with the extensive publicity and meteoric rise (and fall) in value; big names such as Richard Branson & Andreessen-Horowitz getting on board; and retailers such as, shopify, Zynga, & began accepting the currency - the writing was already on the wall, Bitcoin is not going anywhere even though naysayers think otherwise.

According to statistics from a new White Paper published by Coindesk, Bitcoin is Aiming to Disrupt over $459 Billon Total Market Cap. This is the market cap of all the major payment and Fintech companies in the world. There are several companies doing amazing work with regards to the virtual currency, and many of them have received investments from VCs as well as Private investors. Some of them have been discussed here.

20 Illustrative Bitcoin Based Companies:


itBit is a Bitcoin trading exchange that allows for trade between U.S Dollars, Euros, Singapore Dollars and Bitcoin. It utilizes NASDAQ technology to support millions of trade per second. The platform is built to handle more volume than the amount of Bitcoin being traded today. itBit also uses multi factor authentication and has identity verification built in to monitor for any suspicious activity.

itBit acquired a funding of $3.25 Mn in a funding round co-led by Canaan Partners and RRE Ventures. Liberty City Ventures, as well angel investors such as Jay W. Jordan II and Ben Davenport were the other participants. itBit is headquartered in Singapore and employs 13 people. It is available to Bitcoin retail investors in all markets barring the U.S.

Total Funding Received: $5.5 Million


  • On 24th April 2014, CoinLab announced the procurement of $500,000 investment via Draper Associates and other prominent members of the community including Geoff Entress, Jack Jolley and roger Ver.
  • This is the first official venture capital raise for a direct investment in Bitcoin, according to Forbes.
  • CoinLab’s main agenda is the concept of MMORPG mining. Basically, the intention is to leverage Bitcoin to monetize players for hugely popular MMOs such as EVE Online and World of Warcraft (WoW).
  • Two companies have already agreed to participate in a beta for the CoinLab mining concept — Wurm Online and graFighters.
  • Wurm is an independent, Online Wilderness MMORPG that enables players to explore over 512 Sq Km of land, Craft over 1000 items, Train 133 Skills, Mine, and Hunt.
  • graFighters is the first online fighting game for your hand drawn characters.


Kraken, a virtual currency exchange, is the brainchild of Jesse Powell, the CEO of San Francisco-based company Payward. Powell is a founding member of DATA, the self-regulatory organisation created to develop finest practices for the transfer of digital assets. The management team also consists of Michael Gronager (COO), Constance Choi (General Counsel) and Walter Stanish (Founder/Architect). Kraken had raised $260,000 initially in the first round of funding. This was followed by a $3 Mn fund as equity in the second round. The main investor in the second round is roger Ver.

Kraken has been designed to bring digital currency traders some of the same features enjoyed by forex traders such as stop orders and margin trading. It is an upcoming exchange for crypto currencies. Kraken is headquartered in San Francisco, California. It let’s individual traders and institutions in the US and abroad trade fiat currencies like the US Dollar and the Euro against digital currencies like Bitcoin, Litecoin, Ripple, and Ven. The beta version of Kraken was released in May 2013. Thereafter it moved out of the beta phase and launched a live trading platform in September 9, 2013.

Total Funding received: $3.2 Million


Circle Internet Financial was recently launched with the aim of increasing the adoption of digital currencies such as Bitcoin by enabling consumers and merchants with a payment platform. The company was started by ...


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