River Financial Inc., a startup Bitcoin financial services firm, said its number of clients has doubled every month this year, fueled by what it called “Bitcoin Boomers,” or new cryptocurrency investors over the age of 55.
The San Francisco-based firm also announced it had raised $5.7 million to fund its growth from investors including Polychain Capital, Slow Ventures and DG Lab Fund as well as individual investors. Average monthly volume of Bitcoin transactions has increased 80% this year, led in part by a reaction by investors to the Federal Reserve’s renewed policy of asset purchases, the firm said.
“The surging ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.