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Asia’s richest man invests in BitPay


And it is that we read in TC that the world-ecosystem of Bitcoins already has a main investor, and is nothing more and nothing less than the richest name in Asia, Li Ka-Shing. The latter has decided to invest a good sum in BitPay, an Atlanta-based startup dedicated exclusively to becoming the PayPal of the famous virtual Bitcoins.

The investment by Li has been made through his company Horizons Ventures, which may easily be familiar to us since he made previous investments in projects like Facebook or Skype. So far, the company together with the Founders Fund – made up of investors who previously worked at PayPal – have financed BitPay with approximately 2.7 million dollars.

The exact contribution of Li through Horizons Ventures is not yet known, but it has certainly been a brave gesture considering that the legitimacy of Bitcoins has been questioned in countries such as India or China – although it remains a not direct investment in BitCoins, but in one of the startups generated around the virtual currency. Instead, it is in countries like the United States where the new virtual currency seems to be gaining momentum.

BitPay itself has pointed out that, in this year alone, more than 100 million dollars have already been made in Bitcoins transactions despite the braking that the currency has suffered in many countries.