Bitreserve raised $9.7M after massive crowdfunding campaign

Bitreserve has announced the official end of its crowdfunding efforts, with $9.6M raised via Crowdcube and Venovate. According to the company, the result is “the second largest crowdfunding effort in the digital currency sector ever”.

Founded by Halsey Minor, previously founder of CNET Network, and based in San Francisco, Bitreserve intends to make using Bitcoin easy, by “providing people a way to access and move their money from any device without any of the costs and delays of traditional banking”.

“By helping to remove billions of dollars in fees and commissions charged by banks, credit cards and money transfer businesses, we are creating a more fair and equitable world.”, explains the company, whose main product allows to hold bitcoins, converted in stable, real-world money. The user fills an account with bitcoins and can later flip back and forth from Bitcoin to any of six currencies (U.S. gold, Dollar, Euro, Pound, Yen, and Yuan), send or receive bitcoins, or spend them where Bitcoin is accepted.