Bitcoin Is Much Easier to Track and Regulate Than Cash

28 November 2013 | By Avi Mizrahi |

On November 11th it was announced that an institutional Bitcoin exchange, called itBit, was launched in Singapore after raising $5.5 million in funds. Following that story, Forex Magnates interviewed Dan Ciporin, General Partner at Canaan Partners, who was in charge of making that investment.

Mr. Ciporin has a Bachelor degree from Princeton University and an MBA from Yale University. Among the positions he held before joining Canaan Partners were Senior VP of MasterCard International and Chairman and CEO of, where he oversaw revenue growth from zero to over $100 million, culminating in an IPO in October 2004 and acquisition by eBay in 2005. This article will bring you his point of view on Bitcoin.

When Forex Magnates asked what led to the investment in itBit, Mr. Ciporin answered: “Bitcoin is clearly a potentially very disruptive phenomena.” He further explained to Forex Magnates that Canaan Partners have wanted to know for a while what type of investment can be made at this point in Bitcoin, given that they believe it will be a very powerful thing. But, as it is still at a very early stage, they were not sure as to what type of investment is possible.


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