Bitcoin gains more legitimacy with Silicon Valley Bank support.
My favorite anonymous digital currency, bitcoin, has gained a new foothold of legitimacy.
California-based Silicon Valley Bank has forged a deal with bitcoin exchange MtGox to facilitate the flow of US dollars to and from the Asia-based coin exchange.
This is an impressive bold move for the bank that’s famous for working with venture capital funded startups. In fact, I’ve used SVB for years.
Bitcoin’s growth has been stymied by a dearth of stable relationships with US-based financial institutions. Hopefully this relationship will continue with SVB.