Google Has Invested $1.5 Billion In Blockchain Companies Since September 2021
According to a new report, Alphabet, Google’s parent company, invested the most capital in the blockchain business compared to any other public firm, investing $1.5 billion between September 2021 and June 2022.
Alphabet (Google) was revealed as the investor with the deepest funds among the top 40 public businesses investing in blockchain and crypto companies in an updated blog released by Blockdata on August 17.
The firm spent $1.5 billion on the blockchain, focusing on four companies: digital asset custody platform Fireblocks, Web3 game developer Dapper Labs, Bitcoin infrastructure tool Voltage, and venture capital firm Digital Currency Group.
Google’s increased investment in the blockchain business is consistent with that of the other top 40 publicly traded corporations, with a total of $6 billion invested over this time period, compared to $1.9 billion between January 2021 and September 2021 and $506 million in all of 2020.
The other big corporate investors include asset management company BlackRock, which invested $1.17 billion, investment banking corporation Morgan Stanley, investing $1.11 billion, and electronics company Samsung, with investments totaling $979.2 million.
Morgan Stanley and BlackRock adopted a more concentrated approach investing in only two to three companies during the period. However, Samsung was the most active investor, having invested in 13 companies.
The data also found that companies offering some form of non-fungible token (NFT) solutions have been the most popular investment. The remaining funds have gone to firms that offer Blockchain-as-a-Service (BaaS), infrastructure, smart contract platforms, scaling solutions, and digital asset custody platforms.
The report also revealed that banks have begun to boost their exposure to crypto and blockchain startups as client demand for crypto services has increased. United Overseas Bank, Commonwealth Bank of Australia, and BNY Mellon are the banks on the top list of crypto investors.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews