A new study from venture capital firm Trammell Venture Partners (TVP) highlights the continued growth of Bitcoin native startup activities, which raised approximately $1.2 billion by early stage companies between 2021 and 2024.
According to the 2024 edition of TVP Bitcoin Native Venture Capital Landscape Search Briefpre-Bitcoin startup transactions volume increased 767% compared to 2021, informing the mature and sustained venture category. In 2024 alone, pre-seed transactions increased 50% year-on-year, while overall trading for Bitcoin native startups rose 31.8%.
“While data for one or two years may represent anomalies, the data has seen a sustained, long-term venture category trends as the early stages of the Bitcoin startup formation have grown for the fourth consecutive year compared to the previous year.”
TVP defines a Bitcoin native The success of the product is essentially consistent with the success of Bitcoin, as a company that leverages the Bitcoin protocol stack in its core operations.
While the overall venture capital dollar in the Crypto sector has declined, TVP’s findings show that Bitcoin-specific investments are bucking the trend. In 2024, Bitcoin and Native transactions increased their share of venture activities with notable participation from institutional VC companies such as Draper Associates, Founders Fund, Y Combinator and Ribbit Capital.
The TVP report excluded mining operations and late stage outlier trading to focus on early-stage software and infrastructure startups. The dataset includes activities from 2021 to 2024, and is intended to provide clarity to allocators seeking long-term exposure to the Bitcoin startup ecosystem.
The full report can be downloaded from the official TVP website.
