新研究表明，比特币本地启动活动的持续增长

风险投资公司Trammell Venture Partners（TVP）的新研究重点介绍了比特币本地创业活动的持续增长，筹集了近12亿美元

output: New research from venture capital firm Trammell Venture Partners (TVP) highlights the continued growth of bitcoin native startup activity, with nearly $1.2 billion raised by early-stage companies between 2021 and 2024.

产出：风险投资公司Trammell Venture Partners（TVP）的新研究强调了比特币本地创业活动的持续增长，在2021年至2024年之间，早期公司筹集了近12亿美元。

This startup formation and funding activity comes despite a broader downturn in crypto and tech venture capital markets during 2023 and 2024, particularly at the Pre-Seed stage.

尽管在2023年和2024年，尤其是在种子前的阶段，加密货币和技术风险投资市场的低迷和技术风险投资市场的下滑和资金活动仍在进行。

According to the 2024 edition of TVP’s Bitcoin-Native Venture Capital Landscape Research Brief, transaction volume at this stage of the startup lifecycle is up 767% in 2024 compared to 2021, signalling a maturing and sustained venture capital category. In 2024 alone, Pre-Seed transaction counts increased 50% year-over-year, while the overall deal count for Bitcoin-native startups grew by 31.8%.

根据2024年TVP的比特币本地风险投资景观研究简介，该启动生命周期的交易量在2024年增长了767％，而2021年相比，这表明了成熟且持续的风险投资资本类别。仅在2024年，预婚交易的同比增长了50％，而比特币本地初创公司的总交易数量增长了31.8％。

“One or two years’ data might represent an anomaly, but with four consecutive years of year-over-year growth at the earliest stage of Bitcoin startup formation, the data now confirm a sustained, long-term venture category trend,” said Christopher Calicott, Managing Director at TVP.

TVP董事总经理克里斯托弗·卡利科特（Christopher Calicott）表示：“一两年的数据可能代表异常，但在比特币创业组的最早阶段连续四年的同期增长，该数据现在证实了持续的长期风险投资类别趋势。”

TVP defines a Bitcoin-native company as one whose product success is inherently aligned with Bitcoin’s success and which leverages the Bitcoin protocol stack in its core operations.

TVP将一家比特币本地公司定义为其产品成功与比特币的成功一致的公司，该公司在其核心运营中利用比特币协议堆栈。

In terms of resilience, the broader crypto venture capital market experienced a downturn in 2023 and 2024, with total disclosed startup transactions dropping from a peak of $32 billion in 2021 to $11 billion in 2023. However, Bitcoin-specific startups bucked this trend.

在韧性方面，更广泛的加密风险投资市场在2023年和2024年经历了衰退，总披露的启动交易从2021年的320亿美元下降到2023年的110亿美元。但是，比特币特异性的创业公司使这一趋势屈服了。

As a share of the broader crypto startup activity, which includes startups building in blockchains other than Bitcoin, these investments are becoming increasingly interesting to institutional VC firms. In 2024, there was notable participation in Bitcoin-native startups from Draper Associates, Founders Fund, Y Combinator, and Ribbit Capital.

作为更广泛的加密初创企业活动的一部分，其中包括在比特币以外的区块链中建造的初创公司，这些投资对机构风险投资公司越来越有趣。在2024年，Draper Associates，Founders Fund，Y Combinator和Ribbit Capital的比特币本地初创公司都有显着参与。

TVP’s report does not include any mining operations or late-stage outlier deals and focuses on early-stage software and infrastructure startups. The data set used in the report includes activity from 2021 through 2024 and aims to offer allocators an analysis of the long-term trends in Bitcoin’s startup ecosystem.

TVP的报告不包括任何采矿业务或后期异常值交易，而是专注于早期软件和基础设施初创公司。报告中使用的数据集包括从2021年到2024年的活动，旨在为分配者分析比特币创业生态系统的长期趋势。

The full report is available for download via TVP’s official website: https://www.tvp.ventures/.

完整的报告可通过TVP的官方网站下载：https：//www.tvp.ventures/。