Bear market or not, the giant Google still seems to be interested in blockchain companies. It would be the company having invested the most in them since September, according to a recent report.
Google has not slowed down its investments in blockchain companies
The data comes to us from the analytics site Blockdata, which published a report on the 100 most capitalized companies, such as Google (Alphabet), and their investments in blockchain companies. As a reminder, the latter is currently the 4th largest company in the world, with a market cap that exceeds $1.5 trillion.
Therefore, Alphabet, the parent company of Google, has made the most investments since last September:
“Active investors within the largest investment rounds are Alphabet, BlackRock, Morgan Stanley, Samsung, [and] Goldman Sachs.”
Google has focused on four blockchain companies:
- Fireblocks, a digital asset custody service;
- Dapper Labs, a gaming company that created NBA Top Shots, among other things;
- Voltage, a Bitcoin-related infrastructure company;
- Digital Currency Group, a venture capital firm.
Its neighbors in the ranking did not make the same choices. For example, we see that BlackRock preferred USDC issuer Circle, as well as exchange platform FTX.
One notable difference is that Google has made a smaller selection of blockchain companies of interest this year – a sign of the bear market we’re currently experiencing? For all that, the tech giant had invested “only” $600 million last year… Distributed to 17 companies in total.
A gradual opening to the blockchain
Google’s interest is not limited to investing in blockchain companies, but one can sense a certain patience on the part of the company, which is gradually laying the foundations for its exploration of these technologies. Last January, the company confirmed that it would explore cryptocurrency storage further. The same month, it had announced that it had assembled a team at Google Cloud, specifically dedicated to the subject.
Since then, it has again expanded its blockchain teams. The arrival of a colossus like Google in the sector is far from insignificant. It shows that the Tech sector in the broadest sense intends to continue to integrate this type of technology in the years to come.
