Ego Death Capital targets Bitcoin startups

Venture firm Ego Death Capital has raised $100 million from family offices and other investors to back Bitcoin startups, calling BTC “the only decentralized and secure base [...] to build on.”

The firm has already invested in Bitcoin-focused exchanges, payment rails and savings platforms, and is now targeting additional companies generating between $1 million and $3 million in annual revenue.

Launching a Bitcoin-only venture fund comes at an opportune time, as institutional interest in Bitcoin surges thanks to the availability of US spot ETFs and a growing trend of companies adding BTC to their corporate treasuries.

Following Strategy’s lead, dozens of companies have added Bitcoin to their balance sheets this year. However, not everyone is convinced this is a viable long-term business strategy, especially for businesses “without a serious niche,” according to Glassnode’s James Check.