Google is leading the public company investing in crypto and blockchain
Google's parent firm, Alphabet, invested $1.5 billion into crypto and blockchain firms from September 2021 to June 2022.
Wed, 17 Aug 2022, 11:11 am UTC
Alphabet, Google’s parent firm, is the leading public company in terms of investments in the crypto and blockchain space for the past 10 months. A new report shows that the company invested $1.5 billion into crypto and blockchain firms from September 2021 to June 2022.
This was revealed by Blockdata in a report that compared the top 100 public companies that have invested in blockchain and crypto firms. Based on CB Insights funding data, 40 corporations invested in companies in the crypto/blockchain space during the ten-month period.
With its $1.506 billion in investments, Google’s parent firm Alphabet leads the pack in terms of the amount invested into the space. BlackRock, the world’s largest asset manager, landed in the second spot with $1.171 billion in investments from September 2021 to June 2022.
Meanwhile, financial giant Morgan Stanley ranked third with its $1.1 billion in investments during the ten-month period. Samsung ranked third ($979 million) followed by another Wall Street giant, Goldman Sachs ($698 million), BNY Mellon ($690 million), and PayPal ($650 million).
While Google’s parent firm shelled out the most cash, it only concentrated its investments into four companies. These are the Web3 gaming company Dapper Labs, Bitcoin (BTC) infrastructure tool Voltage, digital asset custody platform Fireblocks, and venture capital firm Digital Currency Group, according to Cointelegraph.
Alphabet appears to be changing its investment strategy this year by concentrating on fewer crypto and blockchain firms. Last year, Google diversified its blockchain and crypto portfolio by investing in 17 companies including Alchemy, Blockchain.com, Ripple, Helium, and Dapper Labs despite its smaller allocation of $601.4 million.
Meanwhile, Samsung is the most active company this year after having invested its $979 million funding into 13 companies. UOB came in second with 7 investments, followed by Citigroup’s investments into 6 crypto/blockchain firms, and Goldman Sachs with 5 investments.
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