Crypto-related startup deals surged in 2024 as market values rose, data reveals

Bitcoin-Related Startup Deals Soar in 2024, Trammell Venture Partners Finds

Bitcoin's growing mainstream acceptance and increasing institutional investment have led to a surge in startup deals related to the digital currency, according to a report by Trammell Venture Partners.

The venture capital firm found that the number of deals involving bitcoin-related startups rose by 35% in 2024, with a total of 145 deals closed during the year. This marks a significant increase from 2023, when there were 107 deals.

The report highlights the growing interest in bitcoin and its underlying technology, blockchain, among startups and investors. It also notes that the increase in deals is driven by the growing adoption of bitcoin and other digital currencies, as well as the development of new use cases and applications for blockchain technology.

"We're seeing a significant shift in the market, with more and more startups and investors recognizing the potential of bitcoin and blockchain," said Trammell Venture Partners' managing partner, Brian Trammell. "The growth in deals is a testament to the increasing importance of this space and the opportunities it presents."

The report also found that the majority of deals were focused on the development of new blockchain-based applications, such as decentralized finance (DeFi) platforms and non-fungible token (NFT) marketplaces. Other areas of focus included the development of bitcoin-based payment systems and the creation of new digital currencies.

The report's findings are consistent with other industry trends, which suggest that the adoption of bitcoin and blockchain technology is accelerating. The growth in deals is likely to continue, driven by the increasing mainstream acceptance of digital currencies and the development of new use cases and applications for blockchain technology.