Record Number of Financing Deals Related to Bitcoin Ecosystem in 2024

According to Odaily, monitoring data from The Block Pro reveals that there have been over 90 financing transactions related to the Bitcoin ecosystem so far in 2024, marking the highest number of single-year financing records in Bitcoin's history. Kyle Samani, a managing partner at Multicoin Capital, suggests that the Bitcoin ecosystem is experiencing a 'developer renaissance' with the advent of the Bitcoin Taproot upgrade and the Ordinals protocol. For some developers, building financial tools on Bitcoin is more appealing as it is the oldest and most secure blockchain. The Block has noted a shift in Multicoin Capital's investment trends from Solana to the Bitcoin ecosystem. The venture capital firm, which previously invested in projects like Solana Labs and StarkWare, has recently participated in funding rounds for the Bitcoin-native music platform Arch Network and the Bitcoin scaling network Mezo.