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Bitcoin start-up Coinbase is looking to raise money at a $1 billion valuation, says report

  • The round isn't set but it could be in the neighborhood of $100 million.
  • Existing investors include Andreessen Horowitz and Union Square Ventures.
Brian Armstrong, co-founder and chief executive officer of Coinbase Inc.
David Paul Morris | Bloomberg | Getty Images
Brian Armstrong, co-founder and chief executive officer of Coinbase Inc.

Coinbase, a website for buying, selling and storing bitcoin and other cryptocurrencies, is talking to investors about raising money at a $1 billion valuation, The Wall Street Journal reports, citing people familiar with the situation.

The funding round isn't set, but the company is looking to raise around $100 million, which would be the biggest ever for a bitcoin company, the Journal said.

To date, Coinbase has raised about $116.5 million from investors including Andreessen Horowitz, Union Square Venture and DFJ, as well as a number of banks and the NYSE, the paper reported.

Cryptocurrency is capturing the attention of a larger set of investors as prices skyrocket. Bitcoin has jumped about 150 percent this year to $2,445.20 on Friday. Ethereum, a newer digital currency, has surged 26-fold in 2017 to $218.

Watch: Bitcoin emerging as digital gold