Bitcoin Lending Platform Acre Raises $4M, Valued at $90M

Bitcoin lending platform Acre has successfully raised $4 million in a strategic financing round, with notable participation from Draper Dragon, Big Brain Holdings, and Orange DAO, among others. The funding round was conducted through future equity simple agreements and token subscription rights, with a fully diluted valuation of $90 million for the unreleased ACRE token.

The funding will be used to support Acre's growth and expansion in the decentralized finance (DeFi) sector. Acre aims to provide a user-friendly and secure platform for Bitcoin lending and borrowing, enabling users to earn interest on their Bitcoin holdings and access liquidity without selling their assets.

Draper Dragon, a venture capital firm led by Tim Draper, has been actively investing in the cryptocurrency and blockchain space. The firm's participation in Acre's financing round signals its confidence in the platform's potential to disrupt the traditional lending and borrowing market.

The completion of this financing round comes at a time when the DeFi sector is experiencing significant growth and innovation. As the demand for decentralized financial services increases, platforms like Acre are well-positioned to capture a significant share of the market.

With the support of its investors and a strong team of developers, Acre is poised to become a leading player in the Bitcoin lending and borrowing space. The platform's focus on user experience, security, and innovation sets it apart from its competitors and positions it for long-term success in the rapidly evolving DeFi landscape.