Google Invested a Whopping $1.5 Billion Into Blockchain Companies in September

Jamal Molla
Written By Jamal Molla
Jamal is an English teacher and freelance writer with a passion for NFTs, metaverse, crypto and technology.

Blockchain technology, which is best recognized for playing a critical role in cryptocurrency systems like Bitcoin by preserving a safe and decentralized record of transactions, has grown into a significant industry and given rise to multiple billion-dollar businesses. To make the blockchain industry what it is today, however, there are businesses that have invested in these startups. Google invested a whopping $1.5B into blockchain companies, making it one of these illustrious corporate investors.

The parent firm of Google, Alphabet, a $1.7 trillion market cap tech behemoth, is represented by its main subsidiary, Google.

Alphabet Inc. was initially established in 1998 as a search engine firm. Ever since, the firm has expanded much beyond search engines to include various companies, one of which is Blockchain, and has invested the most money in the blockchain sector of any publicly traded corporation.

In the field, the corporation spent $1.5 billion, focusing on four blockchain startups: the digital asset custody platform Fireblocks, the infrastructure tool for Bitcoin Voltage, the Web3 gaming company Dapper Labs, and the venture capital firm Crypto Currency Group.

In sharp contrast to this, Google last year distributed their considerably smaller $601.4 million fundraising effort across 17 blockchain-based businesses, which once again featured Dapper Labs, along with Alchemy, Helium, Ripple, Blockchain.com, and Celo.

With $6 billion invested throughout this period, Google has raised its investment in the blockchain sector in line with the other top 40 publicly listed firms, up from $506 million in all of 2020 and $1.9 billion between January and September 2021.

We also brought to your notice as Crypto Fundraising Hits $30.3B in H1, Exceeding 2021 Record.

Similar to Google, Morgan Stanley and BlackRock took a more focused strategy during this time, primarily investing in two or three businesses. But, with investments in 13 different businesses, Samsung was by far the most active investor.

According to the research, businesses that provide non-fungible token (NFT) solutions have been the most well-liked investments.

“Many of these are from areas including gaming, arts and entertainment, and distributed ledger technology (DLT).”

Although Google Invested a Whopping$1.5B into Blockchain Companies, other major corporations have also made significant investments, including BlackRock ($1.17 billion), Morgan Stanley ($1.11 billion), and Samsung ($979.2 million). Additionally, data reveals that some banks have begun to boost their exposure to blockchain and cryptocurrency businesses as a result of rising customer demand for these services.

Leave a Comment