From an institutional perspective, cryptocurrency adoption occurs covertly. In fact, a growing number of businesses are putting money into this new asset class. Having said that, there are various ways to invest. The first step is making a cryptocurrency purchase. Another, less common approach is to invest money in blockchain startup companies.
Google has a substantial investment on cryptocurrencies and blockchain.
The number of businesses investigating blockchain is expanding. The adoption of analytics among publicly traded institutions has never been higher, according to a new research from analytics company Blockdata.
Google’s parent firm, Alphabet, is setting the standard. The company invested more than $1.56 billion in blockchain/crypto businesses between September 2021 and June 2022. That too after only four fundraising rounds. Alphabet hasn’t always been enthused about this technology, though. Although it was first skeptical, the corporation has recently started taking part in a variety of cutting-edge projects in the industry.
A style that big names in finance have adopted. In this instance, Morgan Stanley contributed $1.1 billion over two rounds while BlackRock spent $1.17 billion over three. Samsung, the industry leader in electronics, breaks the record for the volume of financing activities. The business can take pride in having invested $979 million in 13 startups.
PayPal, Microsoft, and Citi are further down the rankings; their respective total funding is estimated at 650 million, 447 million, and 215 million.
Which use cases are these businesses funding?
Many of these investors are those whose primary line of work has nothing to do with capital management. a technique for emphasizing that the blockchain has applications far beyond currency.
Major institutional brands participated in 71 fundraising rounds, according to the survey. These involved about 60 blockchain- or cryptocurrency-focused enterprises. It seems that most of these startups provide services related to NFTs. Marketplaces and gaming businesses, meanwhile, are also quite well-liked.
It was revealed last month that in the first half of 2022, venture capitalists invested over $29 billion into bitcoin businesses. All of this is occurring during a bad market. It is evident that established businesses are setting themselves up to rule new economies. Train is running now!
