Source: Cointelegraph Original: "{title}"
According to a report by venture capital firm Trammell Venture Partners (TVP), the number of seed round deals for Bitcoin (BTC) startups has increased by 767% since 2021.
In 2024, the number of Bitcoin seed round deals grew by 50% year-on-year, and the number of funded startups also increased by 27.5% year-on-year.
TVP's Managing Director Christopher Calicott attributed the increase in deals to the strong security of the Bitcoin network: "Many entrepreneurs in the crypto space are re-evaluating the Bitcoin stack as a long-term platform for building companies. It makes perfect sense: the objectively most secure, reliable, and decentralized blockchain is clearly the preferred platform."
However, the funds raised in Bitcoin seed round financing fell by over 22% in 2024, and the median size of seed round financing and the median valuation of startups have been steadily declining since 2021.
The median valuation of Bitcoin startup seed rounds has not recovered to 2021 levels. Source: Trammell Venture Partners
In 2024, the value of financing rounds saw a rebound but still failed to reach the highs set during the previous bull market in 2021, primarily due to unclear cryptocurrency regulations under the former leadership of the U.S. Securities and Exchange Commission (SEC).
Recently, macroeconomic uncertainty, driven by concerns over a prolonged trade war, relatively high interest rates, and fears of a potential economic recession in the U.S., has also weakened investors' risk tolerance for speculative assets like cryptocurrencies.
Since 2021, the total number of financing deals and the number of independent Bitcoin startups have been steadily increasing. Source: Trammell Venture Partners
Crypto venture capital firms expect that financing in 2025 will not reach the levels seen in 2021-2022.
In January of this year, Deng Chao, CEO of institutional asset management firm HashKey Capital, told Cointelegraph that U.S. crypto regulations will increase venture capital in the industry by 2025.
However, the executive warned that macroeconomic uncertainty and geopolitical turmoil could exacerbate price volatility and disrupt trends brought about by favorable regulations.
On April 2, U.S. President Trump signed a comprehensive tariff order imposing a 10% baseline tariff on imports from all countries and implementing a reciprocal tariff system with trading partners, leading to a crash in financial markets.
Due to trade war concerns and macroeconomic uncertainty, the cryptocurrency market saw a significant decline. Source: CoinMarketCap
During periods of trade wars and macroeconomic uncertainty, risk assets like stocks and cryptocurrencies often suffer severe blows as investors flee risk assets in search of safer alternatives such as cash, government securities, and durable goods.
Venture capital firm Haun Ventures invested $1.5 billion in crypto companies in 2022 but recently announced plans to raise $1 billion in the first half of 2025, citing changes in the market environment.
Similarly, analysts at Galaxy Digital also predict that venture capital-led crypto investments will grow by 50% year-on-year in 2025, but they indicate that venture capital funding will not reach the highs set in 2021-2022.
Related: Bitcoin surges to $88,500, shorts get crushed, spot trading volume spikes—will the tariff war end this frenzy?
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