alphabet google blockchain
News

Alphabet Google:$1.5 billion invested in blockchain startups since September 2021

The web 2 giant Google, led by the company Alphabet, does not hide its interest in blockchain and cryptocurrencies. Not wanting to miss the web 3 revolution, the company has even developed a team to build in this new digital environment. Since September 2021, $1.5 billion has been spent on blockchain and cryptocurrencies.

Google is working on blockchain?

In an updated blog published by Blockdata on August 17, Alphabet (Google) was revealed as the investor with the deepest pockets compared to the top 40 public companies investing in blockchain and cryptocurrency companies during the period.

More than $6 billion has been invested in blockchain startups by 40 public companies from September 2021 to June 2022, according to CB Insights.

Available data shows that Google’s parent company, Alphabet, took the highest bet of $1.5 billion in four startups, including DapperLabs.

It is worth recalling that in January, Bloomberg reported that Google (Alphabet) is working on blockchain.

The article stated that a newly appointed EVP is leading a unit focused on “blockchain and other next-generation distributed computing and data storage technologies.”

A person familiar with the company says the team working on blockchain is relatively small, at least for the Google behemoth. The article notes that so far, Google has not made any public efforts in blockchain, although an executive said the company is paying a lot of attention to the ‘crypto’ segment.

 

Interest confirmed!

Institutional hedge fund manager BlackRock followed suit with $1.17 billion, while Wall Street giants Morgan Stanley and Goldman Sachs invested $1.1 billion and $698 million respectively.

Indeed, it was data collected from the top 100 global banks that led to this conclusion. The report has determined, from September 2021 to mid-June 2022, those who have invested the most. On the honor roll, we find:

  • Alphabet with $1.5 billion invested;
  • BlackRock : $1.17 billion invested;
  • Morgan Stanley : $1.11 billion invested;
  • Samsung $979 million invested.

So Alphabet remains at the top of this honor roll with $1.5 billion invested in cryptocurrencies via 4 investments:

  • Fireblocks;
  • Dapper Labs;
  • Voltage;
  • Digital Currency Group.

This is in stark contrast to last year, when Google diversified its much smaller $601.4 million funding effort into 17 blockchain-based companies, which again included Dapper Labs, as well as Alchemy, Blockchain.com, Celo, Helium and Ripple.

 

Leave a Reply

Your email address will not be published.

back to top