Ver responds to a post made by Charlie Shrem on a Btcoin forum that wonders why venture capitaists don’t understand Bitcoin saying he understands it and has money to invest. He invests an undisclosed sum for a 15% share of Shhrem’s company, BitInstant, a startup that provides temporary credit in order to make Bitcoin transactions faster. Ver becomes director of marketing and Asian operations. Shrem says:
The original plan was to have three or four investors, but Mr. Ver offered in full and wanted to be on the team. An offer I could not refuse!
Shrem hires a programmer and a designer with the investment.