Google keeps bringing innovations in almost every field and today the giant is investing in blockchain. It is even possible that Google will be the next king of blockchain investments through blockchain companies and here are the details.
Google Wasn’t 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, invested over $1.5 billion last year in 4 blockchain and crypto companies, Fireblocks, Dapper Labs, Voltage and Digital Currency Group. After Google, the company that has invested the most is the BlackRock fund, with more than 1.17 billion dollars 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 more than $6 billion.
Observers are also interested in Banks’ investments, which have increased significantly, often precisely in crypto businesses, 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.
Update on Google Crypto Wallet
In the past, blockchain projects invested by Google’s parent company include: Ripple (XRP), STORJ, cryptocurrency derivatives trading platform LedgerX (acquired by FTX), cryptocurrency wallet Blockchain.com, etc. Additionally, Google Cloud actively cooperates 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 the Singapore government’s investment company, GIC, which has also become an investor in the GDC, it has also expanded its investments in cryptocurrencies in recent years, including in the main exchange Coinbase, the company of blockchain data analysis Chainalysis, cryptocurrency trading asset custodial firm Anchorage and parent company of 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 major banks like Commonwealth Bank of Australia, BNY Mellon and Morgan Stanley have also all significantly increased their holdings in the cryptocurrency sector, while Citigroup and Goldman Sachs have more or less maintained their positions. In terms of where these investments went, companies involved in non-fungible token (NFT) related solutions certainly took the lion’s share, with a total of 19 companies in the sector, and many of these projects were related. gaming, arts and entertainment, and distributed ledger technology (DLT) industries.
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Google: the new king of blockchain investments!
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