Google parent company has invested $1.5 B in blockchain firms since September

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Google parent company has invested $1.5 B in blockchain firms since September
Google parent company has invested $1.5 B in blockchain firms since September

Alphabet has invested primarily in four blockchain firms—digital asset custody platform Fireblocks, Web3 gaming company Dapper Labs, Bitcoin infrastructure tool Voltage, and VC firm Digital Currency Group

Google’s parent company Alphabet has invested $1.5 billion in blockchain companies between September 2021 and June 2022. According to media reports, the investment valuation is reportedly the highest compared to publicly listed firms entering the sector, as per reported by YourStory.

As per reported by YourStory, the company has invested primarily in four blockchain companies—digital asset custody platform Fireblocks, Web3 gaming company Dapper Labs, Bitcoin infrastructure tool Voltage, and venture capital company Digital Currency Group.

In 2021, the company had invested $601.4 million in 17 block-chain-based companies, including Dapper Labs, Alchemy, Blockchain.com, Celo, Helium, and Ripple.

In February this year, Sundar Pichai, CEO of Alphabet, said the company is exploring integration of blockchain technologies into its flagship products and services.

Despite the market crash, the blockchain sector has drawn the interest of many investors and large corporations.

On August 11, asset manager BlackRock introduced a new private spot Bitcoin trust. It has invested $1.17 billion in block-chain companies. Other corporate giants such as Barclays, JPMorgan Chase, Goldman Sachs, and Morgan Stanley too have invested in the block-chain sector, as per reported by YourStory.

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