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Alphabet is the parent company behind Google, the biggest collector of data in the world. It seems that, despite the current bearish market, Google sees in the crypto industry something that others fail to grasp. During the last biannual report, the company disclosed that it invested over $1.5 billion in acquiring multiple blockchain companies.
The sizeable investment went to Fireblocks, Dapper Labs, Voltage, and DCG. Let’s talk about them a little.
- Fireblocks is a project focused on working with digital assets such as crypto coins, digital bonds, stocks, art, and NFTs. The platform is compatible with many DeFi services.
- Dapper Labs is a development company that offers a wide range of different entertainment options on their web3 website.
- Voltage is a notable player in the bitcoin sector of the crypto ecosystem. It creates infrastructural products for the Bitcoin network.
- DCG stands for Digital Currency Group. It is an investment institution working with risky projects in the industry.
The news about a massive $1.5 investment over the last 6 months follows the previous report indicating that Alphabet invested in 17 different blockchain companies in 2021. However, the total volume of investments was nearly three times smaller ($600 million).
Note that many other institutions are interested in the crypto ecosystem and invest heavily in both emerging and established platforms. For example, BlackRock devoted over $1.1 billion, just as much as Morgan Stanley, to financing promising blockchain solutions and acquiring businesses. Another big player in this domain is Samsung. The electronics giant from South Korea already has invested over $970 million in various crypto projects.
What do they know?!
The mood of the community has been quite depressing recently. The strong bearish market, issues with the global economy, and many other warning signs imbue doubt and anxiety in many enthusiasts who start to lose faith. On the other hand, huge investment firms seem to be quite sure that the potential of blockchain projects is more than just good. It is good enough for over $6 billion invested collectively by established capital holders.
It seems that many have valuable insights that promise very good returns!
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