🚀🌕 Buckle up, Bitcoin enthusiasts! Despite a general decline in venture capital activity, Bitcoin startups saw a whopping 4x increase in funding in 2023, according to a report by Trammell Venture Partners (TVP).

📈 The number of Bitcoin-native pre-seed deals skyrocketed by 360% last year, and the number of funded Bitcoin companies rose by 56.9%. A Bitcoin native company, for those who might not know, is a firm whose product's success is intertwined with that of the Bitcoin network.

💸 While the total amount of Bitcoin venture dollars invested dipped by 12.5% to $305 million, the count of Bitcoin venture deals shot up by 69.2%. In comparison, the crypto industry saw a 64.5% drop and a 35.3% decrease in venture dollars and deals, respectively.

🎉 Some of the big investors last year included General Catalyst, Y Combinator, and Draper Associates. "While 2023 was a challenging year for the broader venture capital landscape, the Bitcoin-native sector not only weathered the storm but emerged stronger," TVL noted.

🔧 The surge in funding coincides with a revival of developer activity on Bitcoin, sparked by new technological capabilities discovered on the network. Rising transaction fees have developers looking for ways to build more effective Bitcoin layer 2 solutions, and funding is moving in that direction.

🎯 "Anecdotally I’ve never seen more bitcoin startups in my career," said CoinMetrics co-founder Nic Carter. "Pace right now is at least an order of magnitude greater than it’s ever been." So, keep your eyes peeled, Bitcoin is on the move! 🚀🌕