- Blockstream raises $210M, boosting its Bitcoin holdings and advancing layer-2 projects like Liquid for faster transactions.
- Blockstream’s Liquid Network, launched in 2018, has issued over $1.8B in assets and holds 3,844 BTC onchain.
- Blockstream expands security tokens with BMN2, offering institutional investors direct exposure to Bitcoin’s hashrate.
Blockchain technology company Blockstream raised $210 million under the direction of Fulgur Ventures, which will finance Blockstream’s developing projects and help to maintain its burgeoning Bitcoin treasury. Significantly, these include its layer-2 strategy, Bitcoin mining operations, and financial product development.
Its flagship product is the Liquid Network, which keeps changing. Bitcoin sidechain Liquid was unveiled in the year 2018 to accelerate asset issuance and transaction speed, a. Other than that, the network has issued securities or tokenized bonds and stablecoins worth $1.8 billion combined. Currently, Liquid holds over 3,844 BTC locked onchain.
Funding and Security Tokens Driving Expansion
Additionally, Blockstream has been active in the security token. September saw the company launch of Blockstream Mining Note 2 (BMN2), which provides institutional investors with direct access to Bitcoin’s hashrate. Following the triumph of Blockstream Mining Note 1 (BMN1), which matured in July 2021 and produced a 32% return on Bitcoin during its three-year duration, comes this.
Furthermore, Blockstream has raised money in a calculated manner. The corporation wanted to raise $50 million in 2021 so that it could buy cheap Bitcoin mining equipment when the price was down. Therefore, these actions demonstrate its dedication to fortifying Bitcoin’s infrastructure.
Layer-2 Solutions Gaining Momentum
Since the 2023 debut of the Ordinals protocol, the utility of the Bitcoin network has increased, particularly through layer-2 solutions like Blockstream’s Liquid and others. Through the use of this protocol, non-fungible tokens (NFTs) might be directly stored and indexed on the Bitcoin blockchain. As a result, it boosted rivalry among blockchain companies to offer scaling solutions, facilitating quicker transactions and cheaper costs.
However, while layer-2 technologies like the Lightning Network, Stacks, and Bitlayer have gained traction, insiders emphasize that their security still lags behind. Besides, Blockstream’s new Chief Operating Officer, Michael Minkevich, is expected to drive growth in this space. Minkevich, who joined from Luxoft, brings extensive experience that will be critical as Blockstream navigates its future innovations.
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