Bitcoin News Mash-Up: Bitcoin Foundation Joins BitGo; Property Sold in BTC; and More

By August 13, 2014Bitcoin Business
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Following are the major Bitcoin news of the day

Bitcoin Foundation Joins BitGo
BitGo recently announced that the Bitcoin Foundation has hired them to ensure “operational capacity”. According to the announcement, BitGo will be assisting the organization in improving its multi-firm portfolios, risk diversification exercises, as well as in implementing internal contracts over cash. Bitcoin Foundation’s Director of Operations Jodie Brady said:

“BitGo is the first in the ecosystem to provide a sophisticated wallet for securely managing spending authority at an institutional level. BitGo are truly innovators in that they are bringing functionality traditionally provided by conventional banking services to the Bitcoin ecosystem.”

Entrepreneur Pays $1.6 Million in BTC for Property
A report from SilicoinBeat.COM revealed that a tech entrepreneur recently bought an unidentified complex space in Lake Tahoe, US by paying the entire payment in Bitcoins. The cost of the property is rumored to be around $1.6 Million. The transaction is said to be processed by BitPay, and is considered to be one of the largest transactions made with a cryptocurrency.

US Subsidiary of Rakuten Starts Accepting Bitcoins
The American subsidiary of renowned Japanese online store Rakuten, named US Rakuten Super Logistics, announced recently about their plans to accept Bitcoin. The store representatives also announced to sign a deal with BitPay for the same. Rakuten in US currently offers products ranging from software to B2B logistic solutions. The store’s CEO Joseph Di Sorbo meanwhile stated:

“Many of our merchants are accepting bitcoin on their e-commerce platforms, but none of our competitors are offering the opportunity to pay for order fulfillment services with bitcoin.”

To contact the reporter of the story: Yashu Gola at

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