Winklevoss Capital invests $1.5m in BitInstant

BitInstant, a New York City based startup that operates an online platform for buying and selling Bitcoins, raises $1.5 million in a seed funding round led by Winklevoss Capital. BitInstant’s full-time staff of 16 led by CEO Charlie Shrem processes approximately 30 percent of the money going into and out of Bitcoin, and last month alone facilitated 30,000 transactions. The Winklevosses say they were attracted to invest in BitInstant in large part because Shrem is the vice chairman of the Bitcoin Foundation, and CIO Alex Waters previously worked with the core developers on the original Satoshi Bitcoin client.

Cameron: Charlie has been in the space for a very long time, and he has an impeccable reputation among Bitcoiners.