Google continues to bring innovations in almost every field and today the giant is investing in blockchain. It is also possible that Google will be the next king of blockchain investments through blockchain companies and here are the details.
Google was not afraid to invest in 4 blockchain companies
Alphabet, which is the parent company of Google, has often invested in blockchain and crypto projects in the past, last year invested over $ 1.5 billion in 4 blockchain and cryptocurrency companies, Fireblocks, Dapper Labs, Voltage and Digital Currency Group . After Google, the company that has invested the most is the BlackRock fund, with over $ 1.17 billion invested in 3 companies: Circle, FTX and Anchorage Digital. In total, investments made during this period in tech startups related to blockchain and cryptocurrencies amounted to over $ 6 billion.
Observers are also interested in bank investments, which have risen significantly, often right in crypto assets, a clear sign that banks’ sentiment towards the crypto world is changing dramatically. In any case, everything suggests that Google could be the new king of blockchain investments.
Google Crypto Wallet update
In the past, blockchain projects invested by Google’s parent company include: Ripple (XRP), STORJ, the LedgerX cryptocurrency derivatives trading platform (acquired by FTX), the Blockchain.com cryptocurrency wallet, etc. Additionally, Google Cloud actively collaborates with blockchain projects to support the operation of blockchain network nodes, such as Hedera Hashgraph (HBAR), Theta Network (THETA), NFT dedicated blockchain Flow and EOS.
As for Singapore government investment firm GIC, which has also become an investor in the GDC, it has also expanded its cryptocurrency investments in recent years, including blockchain data analytics firm Chainalysis in the main exchange Coinbase. , cryptocurrency trading asset custodian Anchorage and parent company of the Hong Kong cryptocurrency exchange OSL, BC Group.
The relationship between banks and bitcoin
Until a few years ago, major investment banks viewed Bitcoin and cryptocurrencies as mere speculative products with no intrinsic value. Now, however, JP Morgan and Goldman Sachs have recently created investment products specifically focused on cryptocurrencies for their clients. It should come as no surprise, then, that it was one bank, United Overseas Bank, that made the most investments in blockchain and cryptocurrency companies.
However, other large banks such as Commonwealth Bank of Australia, BNY Mellon and Morgan Stanley also significantly increased their holdings in the cryptocurrency sector, while Citigroup and Goldman Sachs more or less maintained their positions. In terms of the destination of these investments, the companies involved in non-fungible token-related (NFT) solutions certainly made the lion’s share, with a total of 19 companies in the sector, and many of these projects were related: games, art and entertainment, and distributed ledger technology (DLT) industries.
Passionate about cryptocurrencies, NFT and more generally about everything related to Blockain, I share with you all my tips on my blog! Attention, I am not an expert and what I say is absolutely not to be taken as an absolute truth. I am not an investment advisor 🙂
Find my articles also on my LinkedIn account!