Cryptocurrency round-up: Bitcoin reverses slump and Buttercoin CEO warns against venture capital

The price of bitcoin jumped 1% on 16 April to $225.99 (£151.46, €210.53) at 15:11 in London, ending a week-long slump and pushing its market cap to $3.177bn.

Dogecoin and Litecoin experienced strong starts in morning trading in the US, but Dashcoin was relatively flat by late morning after an early spike.

Buttercoin chief bemoans venture capital reliance

Buttercoin CEO Cedric Dahl warned the cryptocurrency community to limit reliance on venture capital. Speaking to Coin Desk around a week after his start-up shut down, Dahl suggested Buttercoin made a crucial tactical mistake.

"The big lesson is that you cannot rely on venture. You have to make a product that is self-sustaining," the Buttercoin boss told Coin Desk on 16 April.

Instead, he said he would have sought to raise money from angel investors and seed money rather than raising venture funds.

Buttercoin, which provided digital currency exchange services in the United States, shut down on 10 April saying venture capital firms had lost interest in bitcoin.

Pro-bitcoin Pirate Party gearing up for elections

The bitcoin friendly Pirate Party of Finland is taking part in parliamentary elections due to be held on Sunday, 19 April.

The party has long accepted bitcoin donations and last month received €10,000 worth of bitcoins.

On 8 April, Rand Paul became the first presidential candidate in the United States to accept bitcoin donations. The Kentucky Senator is hoping to beat the likes of Ted Cruz, Marco Rubio and Jeb Bush to the Republican nomination for the 2015 presidential election.