Six years ago no one knew what Bitcoin was, perhaps except for the mystery person (or persons) who invented it. Today, the amount of venture capital pouring into the bustling industry that sprang up around the world’s first digital cash is on pace to eclipse the $1 billion mark. Entrepreneurs and investors can’t seem to get enough.
Still, there’s no shortage of haters who dismiss the controversial cryptocurrency as “speculative foolery.” Meanwhile others, including Silicon Valley’s top startup investor Reid Hoffman, aren’t scared off. They’re betting big on Bitcoin anyway.Inside Bitcoins conference in New York City. We asked them why they took the leap into the Bitcoin business and why they think you should, too.