Why we invested in The Bitcoin Company comes down to one of the cleanest product loops in consumer Bitcoin. Founded in Austin in 2021 by Benjamin Price, the company has built a mobile app where users can spend bitcoin on a deep catalog of gift cards and prepaid Visa cards, while simultaneously earning bitcoin rewards on the same everyday purchases that millions of households already make.

The result is a self-reinforcing flywheel. A user funds the app with bitcoin, spends it at major retailers, restaurants, and travel partners, and earns sats back on each transaction. Lightning withdrawals keep balances mobile and sovereign. Over time, the app becomes a daily-use consumer surface where bitcoin functions as both money and rewards currency, exactly the role it is designed to play.

This sits at the center of the Fulgur thesis. We back teams who treat bitcoin as a real medium of exchange, not just a speculative store of value, and who use Lightning to make ordinary commerce feel native. The Bitcoin Company has shipped consistently against this mandate, with a product cadence and customer obsession that are rare even among well-funded fintechs.

The market vision is ambitious. As bitcoin holdings continue to spread across mainstream consumers, the apps that make spending and earning sats effortless will accumulate enormous lifetime value. Gift cards and prepaid Visa rails offer a pragmatic shortcut to acceptance everywhere, while rewards keep users engaged and compounding their stack at the same time.

We partnered with Ben in 2021 because his vision for a bitcoin-native consumer brand is unusually crisp, and the team executes with the focus required to ship in this category. The Bitcoin Company is building the spending and rewards layer that bitcoin holders have wanted for years, and we are proud to keep supporting them as they scale.