Alphabet, the parent firm of Google invested a huge chunk of money into the blockchain industry in contrast to any other public firm, investing $1.5 billion between September 2021 and June 2022.
Shed some more light
In a blog, Alphabet (Google) was disclosed as the investor with the deepest pockets in contrast to the top 40 public corporations putting money in cryptocurrency and blockchain firms during the period.
Which other companies are included?
The firm put $1.5 billion into the space, focusing on four blockchain firms such as Web3 gaming firm Dapper Labs, digital asset custody platform Fireblocks, venture capital firm Digital Currency Group and Bitcoin infrastructure tool Voltage.
How does it differ from the last year?
This is in striking contrast to the previous year when Google expanded its much smaller $601.4 million funding efforts across 17 blockchain-focused firms, such as Alchemy, Dapper Labs, Celo, Blockchain.com, Helium, and Ripple.
How is the investment divided?
Google’s soaring investment into the blockchain sector is coherent with the other top 40 publicly traded firms, with $6 billion in total being put into during this time, in contrast to $1.9 billion between January 2021 to September 2021 and $506 million in all of 2020.
Which other companies have invested?
The other big names who invested include investment banking corporation Morgan Stanley, investing $1.11 billion, asset management company BlackRock, which invested $1.17 billion, and electronics company Samsung, with investments totaling $979.2 million.
What was the methodology adopted?
Akin to google, BlackRock and Morgan Stanley adopted a more intensive methodology investing in just 2-3 firms during the period. However, Samsung was by far the most active investor having put money in 13 distinctive firms.