BitAngels Invests in BlueSeed, an Offshore Incubator

bitcoin1-150x150BitAngels, a network that invests in early-stage Bitcoin and cryptocurrency startups, has invested $100,000 in BlueSeed, an offshore Bitcoin incubator.
The venture is based offshore in international waters in the Silicon Valley area so it’s not subject to U.S. regulators.
“Bitcoin is a digital currency which allows anonymous and instant peer-to-peer payments,” according to the Better Business Bureau. It estimates more than $1.3 billion worth of bitcoins are currently in circulation.
Four individual BitAngels each invested $25,000.
“The beauty of the BitAngels model is that we can rapidly evaluate and fund opportunities with global resources, distributed due-diligence databases and deep-pocket angels anxious to expand the Bitcoin and cryptocurrency infrastructure,” BitAngels co-founder and Executive Director David A. Johnston said in a news release.
BitAngels has more than 120 members and $17.7 million in capital to invest in Bitcoin startups.
Johnson of Austin founded the company along with SocialRadius CEO and Marketwire founder Michael Terpin of Las Vegas and four additional founding board members: Gyft CEO Vinny Lingham, Memory Dealers CEO and “Bitcoin Jesus” Roger Ver, Tradehill CEO Jered Kenna, and angel investor Sam Onat Yilmaz.

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