BitAngels Raises $6.7M For Bitcoin Investments

A new, angel investment group, BitAngels, said this morning that it has raised $6.7M in funding to invest in Bitcoin startups--and also has launched three, physical locations to help incubate companies in the sector. The angel investment group--co-founded by Michael Terpin, a well known figure in the Los Angeles technology community--said it has more than 60 angels helping to support the effort. Bitcoin is the electronic currency which has caught fire in the last few months, an alternative currency to money printed by different countries, and not governed by any country or central authority. Terpin is very bullish on Bitcoin, and has been seeking Los Angeles startups with interest in the sector.