Google’s parent company, Alphabet poured the most capital into the blockchain industry compared to any other public company, investing $1.5 billion between September 2021 and June 2022. a new report shows.
In an updated blog posted by Blockdata on August 17, Alphabet (Google) was revealed as the investor with the largest pockets compared to the top 40 public corporations that invested in blockchain and cryptocurrency companies during the period.
The company invested $1.5 billion in the space, concentrating on four blockchain companies, including the digital asset custody platform Fireblocks, the web3 game company, Dapper Labs, the bitcoin infrastructure tool Voltage and the venture capital firm, Digital CurrencyGroup.
This is in stark contrast to last year, in which Google diversified its much smaller $601.4 million funding effort among 17 blockchain-based companies, again including Dapper Labs, along with Alchemy, Blockchain.com, Celo, Helium and Ripple.
Google’s increased investment in the blockchain industry is consistent with the other top 40 publicly traded companies, with USD 6,000 million in total invested during this time, compared to $1.9 billion between January 2021 and September 2021 and $506 million throughout 2020.
The other big corporate investors are the asset management company BlackRock, which invested USD 1,170 million, the investment banking corporation Morgan Stanley, which invested USD 1,110 million, and the electronics company Samsung, with investments totaling USD 979.2 million.
Like Google, Morgan Stanley and BlackRock took a more concentrated approach, investing in only two or three companies during the period. Nevertheless, Samsung was by far the most active investor, having invested in 13 different companies.
The data also revealed that companies offering some kind of non-fungible token (NFT) solution have been the most popular investment.
“Many of them are in industries like gaming, arts and entertainment, and distributed ledger technology (DLT).”
The remaining investments have been divided among companies that provide Blockchain-as-a-Service (BaaS), infrastructure, smart contract platforms, scaling solutions, and digital asset custody platforms.
The data also found that banks have started to increase their exposure to cryptocurrency and blockchain companies, fueled by an increase in customer demand for crypto services. Banks on the top list of cryptocurrency investors include United Overseas Bank, Commonwealth Bank of Australia, and BNY Mellon.
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