Google’s Parent Company Alphabet Invested Most in Blockchain: Report

Recently blockchain space data and insights provider, Blockdata released a blog consisting of companies invested heavily within crypto and blockchain related companies. Alphabet remained at the top of this list as the company allocated most funds. According to the report, from September 2021 to June 2022, Google’s parent company invested nearly 1.5 billion USD towards crypto companies. 

Out of top 40 publicly listed companies around the world, Alphabet holds the top position when it comes to investment in crypto and blockchain sector, within the given timeframe of the last one year. However, the massive investment worth 1.5 billion USD poured into just four companies. These companies include a prominent crypto custody firm Fireblocks, a Web3 gaming company Dapper Labs, venture capital firm Digital Currency Group and bitcoin infrastructure service providing firm, Voltage. 

While comparing this year’s massive investment of Google, previous fundings to crypto companies was relatively low. Earlier, the search engine giant invested approx 601.4 million USD only. Moreover, the overall fund was distributed across 17 different crypto and blockchain companies. 

Companies other than Google which were reported to make investments include the largest asset management firm, BlackRock that reported to invest approx 1.17 billion USD. Further spots in the list obtained by Morgan Stanely and Samsung that invested 1.11 billion USD and 979.2 million USD, respectively. 

The top three companies within the list took the approach of investing only in a handful of crypto companies. However, Samsung’s choice makes contrast with them as the South Korean conglomerate invested in 13 different companies. 

Alongwith the crypto companies, crypto innovations like non-fungible tokens (NFTs) also witnessed the notable investment during the similar timeframe, the report suggests. Meanwhile, the investment is shared by infrastructure, smart contract platforms, crypto custody platforms, scaling solutions and Blockchain-as-a-Service (Baas) like initiatives and projects. 

Source: https://www.thecoinrepublic.com/2022/08/17/googles-parent-company-alphabet-invested-most-in-blockchain-report/