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Top companies globally have invested $6 billion in crypto and blockchain companies
The rise of cryptocurrency and its technology has created a robust and attractive force in recent years. With the great possibility of blockchain technology, many of the world’s giant companies have shown their interest.
This is because of the immense benefits and applications that come through the innovative technology of blockchain. In most cases, it also provides a safeguard to protect sensitive information.
Moreover, the investment benefits from blockchain technology are quite massive compared to traditional enterprises. Investors can reap a return of over 100% on their invested funds as long as the tables are kept straight.
According to a recent study by Blockdata, up to 40 major global companies invested in blockchain companies and projects. The survey, which covered between September 2021 and June 2022, showed that the amount invested is around $6 billion. Blockdata conducted its observation by studying the investment activity of around 100 largest public enterprises and their market capitalization.
To build its research, the research firm focused on the size of the financing rounds of the giant companies. This served as a proxy for their total investment. Blockdata noted that they had to use this process since it could be difficult to get each participant’s exact contribution in a round.
Big firm investments in crypto and blockchain companies
From their studies and observations, Samsung stood as the most active company. It invested in around 13 different companies during the period under review. The firm’s participation in the rounds raised about $979 million.
However, Google’s parent company, Alphabet, came out as the best investor with the highest value. The company participated 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 provider of crypto custody technology, and Dapper Labs, the Flow blockchain developer. The remaining are Digital Currency Group and Voltage, a Bitcoin network infrastructure provider.
The study also indicated the involvement of the world’s largest asset manager, BlackRock (BLK), in some financing rounds. BLK participated in rounds targeting $1.2 billion. In addition, it merged three different financing rounds.
In a similar move, Morgon Stanley ( MS ) participated in fundraising rounds that generated about $1.1 billion. However, MS only participated in two funding rounds during the period under investigation.
In addition, 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 various aspects of services and products that are related to cryptocurrency.
