Coinbase is reportedly on a mission to raise money as interest in digital currency skyrockets among investors.
The bitcoin start-up is talking to investors on a new round of funding at a $1 billion valuation, The Wall Street Journal reported, citing people familiar with the matter. The goal is to raise $100 million, which—if all goes according to plan—is poised to become the biggest fundraising round ever for a bitcoin company.
Founded by Brian Armstrong and Fred Ehrsam, Coinbase has already secured an estimated $116.5 million from investors including Andreessen Horowitz, Union Square Ventures, DFJ, NYSE and other financial institutions.
The bitcoin company was valued at around $400 million in 2014, according to Coin Telegraph, quoting Nakamoto Institute’s Pierre Rochard. Today, Coinbase is 2.5 times bigger, and it’s a growth that can be described as “consistent and satisfactory” for its investors.