Lightspeed: Here is why we invested in BTCChina

By Editor

Nov 22, 2013 05:59 PM EST

Bitcoin has been on a nice run over the last few months, currently trading [above $700 USD/BTC]

A large driver of the run up has been growing demand for Bitcoin in China. BTC China has always been the biggest Bitcoin exchange in China, and is now the biggest Bitcoin exchange in the world.

We've been bullish about the opportunities in Bitcoin for a while and are excited to be able to announce that, together with our partners in China at Lightspeed China Partners, we are investors in BTC China.

We have long believed that a lot of the innovation in Bitcoin will come from outside the US, and BTCChina is proving out this thesis. The opportunity for innovation that Bitcoin will enable in China is truly enormous, given the scale and growth of e-commerce, remittance, microtransactions and payments in that country.  and  The company is led by Bobby Lee, an extremely experienced technologist and leader. We believe that mature management is going to be a critical factor in navigating the regulatory, security and business challenges in the Bitcoin ecosystems, and Bobby and his cofounders, Linke Yang and Xiaoyu Huang, are ideally suited to continue to lead innovation in the Chinese Bitcoin environment and, eventually, beyond China's borders

We're excited to support them on their journey!

(This post was orginally posted on Lightspeed Venture Partners blog by Jeremy Liew)

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