According to a new report, Google’s parent company, Alphabet, invested $1.5 billion between September 2021 and June 2022, investing the most capital in its blockchain business compared to any other public company.
He emerged as the investor with the deepest funding among Alphabet (Google). In an updated blog published by the top 40 public enterprises investing in blockchain and crypto companies, Block data on Aug 17.
The firm has spent $1.5 billion on the blockchain, focusing on four companies:
- Digital asset custody platform fire blocks
- Web3 game developer Elegant Labs Bitcoin infrastructure tool Tension
- Venture capital firm Digital Currency Group
Google diversified its significantly smaller $601.4 million fundraising effort last year among 17 blockchain-based firms, including Stylish Labs, Alchemy, Blockchain.com, Cello, Helium, and Ripple.
Google’s increased investment in blockchain is consistent with that of other top companies. Compared with 40 publicly traded companies of $6 billion, investment during this time is $1.9 billion between January 2021 and September 2021 and $506 million in the full year of 2020.
Other major institutional investors include the wealth management firm. Black Rock invests $1.17 billion in investment banking company morgan Stanley with investments of $1.11 billion and electronics company SAMSUNG with total investments of $979.2 million.
Morgan Stanley and BlackRock took a more robust approach, investing in only two to three companies. However, Samsung was the most active investor and has invested. 13 companies.
The data also found that companies are making some offers. Non-exchangeable token (NFT) solutions have been the most popular investment. The remaining funds went to the bidders. Blockchain as a Service (BaaS) infrastructure, smart contract platforms, scaling solutions, and digital asset custody platforms.