On April 5th, 2022 The Bitcoin Company announced a $2.1 million dollar seed round that was led by members of the Bitcoin community as well as other Bitcoin companies and firms. Some of those who are involved include: Greg Foss, Jay Gould, American HODL, Brad Mills, Seetee, Mimesis Capital, Fulgur Ventures, Lightning Ventures, Hivemind Ventures, Plan B Ventures, Revolution's Rise of the Rest Seed Fund, Cavalry Asset Management, and 35 other members in the space.
The Bitcoin Company’s recent app is an all-in-one solution for exchange services, banking, and Bitcoin rewards. The Bitcoin Company was created to offer everyone (including those less tech-savvy) a means to do everyday banking and savings activities. Through their partnerships with companies like Visa (on a bitcoin rewards card), PrimeTrust, Figg, Checkout.com, and SVS, the Bitcoin Company plans on offering all of the same services that traditional financial services offer.
Their goal is to make traditional finance tools and Bitcoin as easy as possible. CEO of The Bitcoin Company Ben Price explains that "We believe Bitcoin is for everyone. It's the solution to so many issues in the world today. We're here to make it easy to use and be accessible for everyone."
The Bitcoin Company’s “super-app” will be able to unify various reward options into one platform. By combining reward mechanisms like gift cards, offering an affiliate program, a card linked to cash back rewards, the Bitcoin Company app will be able to incentivize many users to earn Bitcoin without the need to purchase it with their own money.
The consolidated rewards program is the first step for the company to onboard users. The team plans to eventually integrate traditional banking services like a checking and savings account. This method aims to help new users view Bitcoin as a native currency rather than an investment. With Bitcoin integrated alongside traditional currencies like the U.S. dollar and the euro, Bitcoin may eventually become more normalized for new users.
The Bitcoin Company Team is made up of Bitcoiners who come from an array of backgrounds. They are all located in various parts of the world in order to provide their perspectives on how The Bitcoin Company app can be made and used by everyone from various lifestyles. The app is currently available in the U.S. and will eventually expand to countries like: Ukraine, Colombia, E.U., Canada, and Mexico.
Price and the rest of his team recognize that a lot of education is also necessary in order to continue onboarding new users. He states “I've always tried to create products that my mom can use. I think we've assembled the right team to build a product that is easily understood, accessible, and a value-add for the masses."