Bitcoin Payments Company Strike Raises 80 Million in Series B Round

Bitcoin payments company Strike has raised $80 million in a Series B funding round. Venture capital firm Ten31, which focuses on Bitcoin companies, led the round but Washington University in St. Louis, and the University of Wyoming, also took part, according to a Tuesday announcement. The cash will be used to grow Stike’s partnerships with merchants. Strike uses the Lightning Network, a solution that works to speed up Bitcoin transactions so the cryptocurrency can be used to make everyday purchases. Strike added that it plans to release new product lines with the funding for new types of customers, such as large financial institutions and businesses. Major e-commerce companies like Blackhawk, NCR, and Shopify have integrated Strike’s app.