Bitlayer Closes $9M Extension to its Series A funding round
Bitlayer, the innovative Bitcoin Layer 2 protocol, is making waves once again after securing a $9 million extension to its Series A funding round.
This latest influx of cash comes courtesy of heavyweights like Polychain Capital and Franklin Templeton, with additional backing from SCB Limited, Selini Capital, G-20 Group, and other notable institutional investors. The total raised now stands at a hefty $25 million, setting Bitlayer up for its next leap forward.
Now, if you’ve been following Bitlayer’s journey, you might recall their earlier wins—a $5M seed round in March and an $11M Series A in July.
With partners like Framework Ventures, OKX Ventures, and Alliance DAO already in the mix, it’s safe to say that Bitlayer is attracting some serious attention.
It’s as if Bitlayer's CEO, Kevin He, whose net worth is now estimated to be around $40 million, just keeps spinning gold out of Bitcoin.
He said:
"Bitlayer's innovative approach to blockchain technology is exemplified by its utilization of OpVM, it empowers Bitcoin to seamlessly integrate into any programmable blockchain environment in a trustless manner, which will catalyze rapid development and widespread adoption of a decentralized application ecosystem based on Bitcoin's substantial liquidity."
What’s behind all this excitement? Bitlayer’s cutting-edge OpVM tech. This combination of fraud proofs (BitVM) and validity proofs (based on OP_CAT) strengthens Bitcoin’s security, making sure Bitcoin’s Layer 1 can handle complex computations with ease.
In simpler terms, it’s like giving Bitcoin a superhero upgrade. With over 280 Dapps already running on the Bitlayer network, and partnerships with Web3 giants like AWS Cloud and Hacken, things are heating up.
As Bitlayer gears up for the launch of its V2 platform—where Bitcoin-native rollups will use the OpVM tech—expect even more growth on the horizon.
And if all of this sounds a little too tech-heavy, just remember: it’s all about making Bitcoin faster, more secure, and ready to take on the future.
Maybe it’s time we start calling Kevin He "Bitcoin’s very own Tony Stark."
