According to PitchBook, Bitcoin's recent surge coincided with the strongest quarter for cryptocurrency and blockchain startups since late 2018, reaching $ 702 million in Q4 2020.
Since many blockchain startups' products are tied to the value of cryptocurrencies, the growth of bitcoin, ether and other coins could directly improve the outlook for these startups, Veradittakit said.
BlockFi, which allows users to borrow or earn interest on digital currency positions, has become one of the most funded startups in the decentralized financial trend after raising $ 50 million last year led by Morgan Creek Digital Assets with Valar Ventures, Winklevoss Capital and others.
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