Google invested $1.5 billion in blockchain companies
Google invested $1.5 billion in blockchain companies
Blockchain

Google invested $1.5 billion in blockchain companies

By Vincenzo Cacioppoli - 17 Aug 2022

Chevron down
Listen this article
download

According to a recent report by specialized blockdata analyst firm Alphabet, Google‘s proprietary company is the company that has invested the most in crypto companies from September 2021 to June 2022.

Google has invested in 4 blockchain companies

Samsung on the other hand, according to the report, would be the company that has invested in the most projects: a total of 13, in which it would have invested an amount of $969 million. The report collected data from September 2021 to mid-June 2022. During this period, 40 companies made investments in blockchain/crypto companies. After the German company the most active one is UOB with 7 investments, followed by Citigroup with 6 and Goldman Sachs with 5.

Alphabet, which has often invested in blockchain and crypto projects in the past, has invested more than $1.5 billion in the past year in 4 blockchain and crypto companies, Fireblocks, Dapper Labs, Voltage and Digital Currency Group.

Following Google, the company that invested the most was the BlackRock fund, with over $1.17 billion invested in 3 companies: Circle, FTX and Anchorage Digital.

In total, investments during this period in Blockchain and cryptocurrency-related technology startups amounted to more than $6 billion. The report does not detail the individual amounts for each company and project.

Interesting is also the aspect concerning the investments of Banks, which have increased considerably, often precisely in crypto companies, a clear sign that the sentiment of banks towards the crypto world is radically changing. 

The relationship between banks and Bitcoin

Until a few years ago, major investment banks regarded Bitcoin and cryptocurrencies as mere speculative products with no intrinsic value. Now, however, both JP Morgan and Goldman Sachs recently created investment products for their clients specifically on cryptocurrencies. 

Hence it should come as no surprise that it is one bank, United Overseas Bank, as mentioned the second company to have made the most investments in Blockchain and crypto companies. But other major banks such as Commonwealth Bank of Australia, BNY Mellon and Morgan Stanley have also all significantly increased their holdings in the crypto sector, while Citigroup and Goldman Sachs have more or less maintained their positions.

In terms of where these investments would be directed, companies involved in solutions related to non-fungible tokens (NFTs) certainly took the lion’s share, with a total of 19 companies in the sector, and many of these projects were related to the gaming, arts and entertainment, and distributed ledger technology (DLT) sectors.

“The popularity of NFTs can be seen primarily as an opportunistic move by corporations trying to capitalize on trends to meet where their clients are transacting. Startup platforms raising capital Enabling commerce in a decentralized world by developing where users can buy and sell NFTs, including virtual lands, clothing and other branded items”,

reads the Blockdata report.

Vincenzo Cacioppoli

Vincenzo was born in Genova but lived most of his life in Milan. He has a degree in political science. He is a journalist, blogger, writer, and marketing and digital advertising expert. After a long experience in traditional marketing, he started working with the web and digital advertising in 2011, creating a company called Le enfants. Passionate about the web and innovation, in 2018 he started exploring the topics related to blockchain technology and cryptocurrencies. Independent cryptocurrency trader since March 2018, he now collaborates with companies in the sector as a content marketing specialist. In his blog. mediateccando.blogspot.com, he has long been primarily focused on blockchain, which he considers to be the greatest technological innovation after the Internet. His first book about blockchain and fintech is scheduled for release in November.

We use cookies to make sure you can have the best experience on our site. If you continue to use this site we will assume that you are happy with it.