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Goldman, joined by some other firms, just dropped $50M in Circle, the digital currency company that uses bitcoin and as a BTC/fiat transmission rail.
The funding aspect is interesting, though not nearly as interesting as the facts that (a) Goldman is involved, and (b) one now wonders what Goldman's decision will catalyze in the mega-fund world and digital currency's path to adoption.
It was only last year that Goldman Sachs was telling investors that Bitcoin wasn’t a safe store of value. Looks like they’ve come around. A bitcoin startup called Circle says that, as of yesterday, they’ve taken a $50 million in funding in an investment co-led by Goldman Sachs and a Chinese venture firm called IDG Capital Partners. Circle is a company that uses the blockchain—the technology that all bitcoin transactions rest on—to move money quickly with no lumbering transaction fees. In tandem with the investment, Circle is adding more seamless transaction capabilities to make transferring bitcoin, U.S. dollars and the yuan faster and cheaper.
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