According to a latest news report, Alphabet, the google parent, has poured almost $1.5 billion in the blockchain sector between the period of September 2021 and June 2022. As per the numbers and statistics, this is by far the maximum of any other publicly traded firm.
Additionally, according to Blockdata, Alphabet (Google) is the investor with the biggest sum of money in comparison to the top 40 major companies funding blockchain and cryptocurrency organizations within the same time period.
The money invested by Alphabet is solely for the startups. This means, the company will employ a total of $1.5 billion on blockchain startups. There are four major start-ups that have made it to the list of Google’s prodigy namely: Fireblocks, Dapper Labs, Bitcoin infrastructure, and Digital Currency Group.
Fireblock is a digital asset custody platform. Dapper Labs is a Web3 game company. Bitcoin Infrastructure is a Voltage tool. Digital Currency Group is a venture capital firm.
Compare this with Google’s considerably smaller $601.4 million fundraising effort from the previous year, which was distributed among 17 blockchain-based businesses and again includes Dapper Labs, along with Alchemy, Blockchain.com, Celo, Helium, and Ripple.
If we look at the graph, Google invested $506 million in 2020 in the blockchain domain. From January 2021 to September 2021, it has poured $6 billion. And now, between September 2021 to June 2022, it has invested a whopping amount of $1.9 billion. There are other 40 top organizations following in the footsteps of Google.
The three other significant corporate investors are the investment banking firm Morgan Stanley ($1.11 billion), the asset management firm BlackRock ($1.17 billion), and the electronics manufacturer Samsung ($979.2 million).
As per the latest update, Banks and other financial institutions have also begun their research in investing in blockchain, metaverse, and cryptocurrency. Since 2020, there has been a significant rise in the domain which has been clearly and keenly observed by the leading investment institutions. Banks like United Overseas Bank, Commonwealth Bank of Australia, and BNY Mellon are by far the top-most institutions that are heavily investing in cryptocurrency.
If you are also keen to enter the domain, start by enrolling for blockchain and blockchain allied certifications. These certification programmes will help you gain a competitive edge over others whilst also acting as an entry ticket to the domain.