Other large corporate investors, according to a Block data study, include BlackRock, Morgan Stanley, Samsung, and Goldman Sachs.
The parent company of Google, Alphabet, invested $1.5 billion in the blockchain industry between September 2021 and June 2022, more than any other publicly traded company.
In an updated blog post published by Blockdata on Wednesday, Alphabet (Google) was named as the investor with the biggest sum of money compared to the top 40 public organizations investing in blockchain and cryptocurrency enterprises during the period.
The company invested a total of $1.5 billion, concentrating on four blockchain startups: Fireblocks, a platform for digital asset custody, Dapper Labs, a developer of Web3 games, Voltage, a tool for Bitcoin infrastructure, and Digital Currency Group.
This is in contrast to Google’s much smaller $601.4 million fundraising effort from the prior year, which was split among 17 blockchain-based companies and once again included Dapper Labs, along with Alchemy, Blockchain.com, and Celo, Helium, and Ripple.
Google increased its investment in the blockchain industry to $6 billion throughout this time period, up from $506 million in all of 2020 and $1.9 billion between January and September of 2021, bringing it on par with the other top 40 publicly traded companies.
The three other major corporate investors are the asset management company BlackRock ($1.17 billion), the electronics giant Samsung ($979.2 million), and the investment banking firm Morgan Stanley ($1.11 billion).
Similar to Google at this time, Morgan Stanley and BlackRock adopted a more targeted strategy, only making investments in two or three companies. Samsung, on the other hand, was by far the most active investor, having made stakes in 13 different companies.
The most common investments, per the statistics, have been in companies that offer nonfungible token (NFT) solutions:
The majority of the remaining funding has gone to companies that provide infrastructure, smart contract platforms, scalability solutions, Blockchain-as-a-Service (BaaS), and platforms for the custody of digital assets.
According to the survey, banks have started to increase their exposure to the blockchain and cryptocurrency industries as a result of the growing demand from customers for these services. Among the major institutions that invest in cryptocurrencies are the United Overseas Bank, Commonwealth Bank of Australia, and BNY Mellon.
