Bitnet Announces $30 Million Investment in BitKeep at Paris Blockchain Summit

03/22/2023 11:07 • Tech Ticker • 125 views

It is reported that on March 22, at the Paris Blockchain Summit, Bitnet announced that it would invest $30 million in BitKeep, a Web3.0 multi chain wallet, and obtain a controlling stake. This round of financing is led by Dragonfly Capital and co invested by KuCoin Ventures, A&T Capital, Foresight Ventures, SevenX, Matrixport, Bixin Capital, Danhua Capital, Peak Capital, and YM Capital.

Bitnet announced an investment of $30 million in Bitkeep to become its controlling shareholder

At the Paris Blockchain Summit on March 22, Bitnet announced its investment of $30 million in BitKeep, a Web3.0 multi-chain wallet. Not only is Bitnet investing a significant amount of funds, but it is also acquiring a controlling stake in BitKeep. This round of financing is co-led by Dragonfly Capital and co-invested by KuCoin Ventures, A&T Capital, Foresight Ventures, SevenX, Matrixport, Bixin Capital, Danhua Capital, Peak Capital, and YM Capital. This is a significant move in the cryptocurrency world, and it could have many opportunities and implications.

The Significance of BitKeep

BitKeep is a cross-chain wallet, and it allows its users to store a wide range of cryptocurrencies, including Bitcoin, Ethereum, Polkadot, Filecoin, and many more. It is also a multi-chain wallet, meaning that it integrates with various blockchain networks, from centralized to decentralized finance. BitKeep is often praised for its user-friendly interface and its reliability, making it an attractive option for investors.

The Investee: Bitnet

Bitnet is a cryptocurrency collection and investment platform. It focuses on both investment and storage management of digital assets. Bitnet is relatively new to the market, having been launched in 2021. However, it has risen in popularity in a short period, and with the announcement of the $30 million investment, it is poised for even greater growth.

The Investors

Leading this round of financing is Dragonfly Capital, a VC firm that focuses on investing in cryptocurrency-based startups. Other companies that have invested include KuCoin Ventures, A&T Capital, Foresight Ventures, SevenX, Matrixport, Bixin Capital, Danhua Capital, Peak Capital, and YM Capital. The impressive and extensive list of investors in BitKeep shows that the cryptocurrency industry is rapidly gaining momentum and attracting significant investments.

Implications of the Announcement

This announcement could have a profound effect on the cryptocurrency world as a whole. The investment by Bitnet could potentially help BitKeep expand even further and launch new features. This could make BitKeep an even more attractive option for cryptocurrency investors. The investment shows that Bitnet recognizes the potential of BitKeep and its vision for the future of cryptocurrency.
The announcement is also significant because it could highlight the importance of multi-chain wallets. As more and more cryptocurrencies are developed and launched, investors and traders need a way to store them securely. Multi-chain wallets like BitKeep are becoming increasingly popular as they offer a way to store a wide range of cryptocurrencies in one place.

Conclusion

The $30 million investment in BitKeep is a significant step forward for the cryptocurrency world. It highlights the potential of BitKeep as a leading multi-chain wallet and shows the growing importance of digital assets in the investment world. This investment could help expand BitKeep and make it even more user-friendly, attracting even more investors in the future.

FAQs

**Q: What is BitKeep?**
A: BitKeep is a Web3.0 multi-chain wallet that allows its users to store a wide range of cryptocurrencies, including Bitcoin, Ethereum, Polkadot, Filecoin, and many more.
**Q: What is Bitnet?**
A: Bitnet is a cryptocurrency collection and investment platform that focuses on investment and storage management of digital assets.
**Q: Who are the investors in BitKeep?**
A: Leading this round of financing is Dragonfly Capital, a VC firm, and co-investors include KuCoin Ventures, A&T Capital, Foresight Ventures, SevenX, Matrixport, Bixin Capital, Danhua Capital, Peak Capital, and YM Capital.

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