Google Invests Billions On Bitcoin And Other Crypto Assets

A recent update has shown that the American IT giant Google is enthusiastic about the cryptocurrency industry and has invested in blockchain startups more than any other organization. This is the first time that this information has been made public.

Figures and statistical compilations provided by Blockdata, a distributor of blockchain market data, indicate that Google has invested more than 1.5 billion dollars in the space of nine months.

They placed a greater emphasis on four blockchain companies: Voltage, Dapper Labs, Fireblocks, and Digital Currency Group.

As most of us are aware, Sergey Brin and Larry Page established Google in 1998 as a technology business with a concentration on computer hardware and software, artificial intelligence (AI), cloud computing, the internet, and advertising.

In the beginning, they were known as Google Inc., but in 2017, they changed their name to Google LLC. Over 139 thousand people were working for the company as of the year 2021, and it has 154 locations all over the world, including its headquarters in California.

In addition to Google, there are a number of other public firms that are enthusiastic about blockchain technology and have invested significant capital in public blockchain startups. Among these investors is the multinational electronics corporation Samsung, which has spread its investment of around one billion dollars over thirteen different blockchain companies.

Together, the financial services companies BlackRock and Morgan Stanley invested more than two billion dollars. In the same time period as Google LLC, over forty other companies financed a combined total of six billion dollars across sixty-one cryptocurrency ventures.

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On the other hand, Google LLC is the only company that has invested more money on its own than all of the other businesses put together. The 40 different organizations that invested, the majority of which were financial institutions and banks, were financial institutions.

This demonstrates that banks are exhibiting a greater interest than they ever had before in the public blockchain business and the benefits that it has a tendency to provide. In addition, the majority of the cryptocurrency firms that have been funded offer some kind of non-fungible token on their respective platforms. Blockchain investments have also been distributed to businesses that are involved in web3 solution implementation, the arts, the entertainment industry, and blockchain gaming.

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