Top Companies Globally Pour $6 Billion Into Crypto And Blockchain Firms
The emergence of cryptocurrency and its technology has created a robust and attractive force over the past few years. With the high possibility of blockchain technology, a lot of the world’s giant companies have shown their interest.
This is due to the enormous advantages and applications that come through the innovative technology of blockchain. Also, in most cases, it provides a security measure in protecting sensitive information.
Moreover, the investment benefits from blockchain technology are quite massive compared with those of traditional ventures. Investors could reap a yield of over 100% of their invested funds as long as the tables are kept straight.
According to a recent study by Blockdata, up to 40 big global companies invested in blockchain firms and projects. The survey, which covered between September 2021 and June 2022, revealed that the invested amount is about $6 billion. Blockdata led its observation by studying the investment activity of about 100 largest public firms and their market cap.
To build its research, the analytics firm focused on the size of the funding rounds of the giant companies. This served as a proxy for their total investment. Blockdata noted that it had to use this process since it could be tricky to get each participant’s exact contributions in a round.
Major Firm’s Investments In Crypto And Blockchain Companies
From its study and observation, Samsung stood as the top most active firm. It invested in about 13 different companies during the period under survey. The firm’s participation in the rounds raised about $979 million.
However, Google’s parent firm, Alphabet, came out as the top investor with the highest value. The company took part in four funding rounds to generate $1.5 billion. The funding rounds were for blockchain projects and other crypto-related companies.
Some of Alphabet’s investments include Fireblocks, a crypto custody technology provider, and Dapper Labs, the Flow blockchain developer. The remaining are Digital Currency Group and Voltage, a Bitcoin network infrastructure provider.
Also, the study indicated the involvement of the world’s biggest asset manager, BlackRock (BLK), in some funding rounds. BLK participated in rounds that targeted $1.2 billion. In addition, it joined up three different funding rounds.
In a similar move, Morgon Stanley (MS) participated in fundraising rounds that generated about $1.1 billion. However, MS joined only two funding rounds during the period under the survey.
Additionally, Blockdata, through its recent study, pointed out that the mainstream had increased acceptance and adoption of the crypto industry and blockchain technology. This is seen in the increasing number of participants in different aspects of services and products that relate to cryptocurrency.Source