According to CryptoPotato, funding for Bitcoin startups quadrupled in 2023, despite an overall decline in venture capital activity. Research by Trammell Venture Partners (TVP) shows that the number of Bitcoin-native seed round transactions increased by 360% last year, and the number of Bitcoin companies receiving financing increased by 56.9%. TVP explained in a report on Friday that 'Bitcoin-native companies' are companies whose product success is interconnected with the success of the Bitcoin network and is based on the principle that Bitcoin is the 'global monetary asset of the future.' This includes early-stage startups, but excludes late-stage companies, Bitcoin miners and 'crypto' oriented companies. While the absolute amount of Bitcoin venture capital investment fell by 12.5% ​​in 2023 to $305 million, the number of Bitcoin venture capital deals increased by 69.2%. In comparison, the corresponding figures for the crypto industry were -64.5% and -35.3%. Although the number of crypto venture capital deals is still 20 times that of Bitcoin, the latter grew significantly last year. Big investors in the past year include General Catalyst, Y Combinator and Draper Associates, the early-stage venture capital firm run by longtime Bitcoin bull Tim Draper.