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, Venture capital funds bet $ 17 billion on crypto, Forex-News, Forex-News
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Venture capital funds bet $ 17 billion on crypto

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, Venture capital funds bet $ 17 billion on crypto, Forex-News, Forex-News

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, Venture capital funds bet $ 17 billion on crypto, Forex-News, Forex-News
, Venture capital funds bet $ 17 billion on crypto, Forex-News, Forex-News

The world of cryptocurrencies has seen unprecedented growth in recent years. Proof of this is the growth that its adoption and individual appreciation have had. The volatility for which large cryptocurrencies like Bitcoin are criticized is precisely what attracts many to invest in it. Therefore, venture capital funds have not been the exception, and they already make large investments in cryptocurrencies.

Venture capital funds have already invested $ 17 billion this year in companies operating in the cryptocurrency space. This according to the data provider PitchBook. It is by far the most in a single year and almost equal to the total amount raised in all the previous years put together. Bullish Global’s biggest $ 10 billion gross in industry history.

Why do venture capital funds invest in cryptocurrencies? How?

But let’s talk about where this money came from. You’d be surprised to learn that much of that investment came in one deal. In May, Block.one injected $ 10 billion in digital assets and cash into Bullish Global. This company is a blockchain software company whose long-time backers include billionaires Peter Thiel, Alan Howard, and others. For its part, Bullish Global is a new cryptocurrency exchange. At the time, the company also raised $ 300 million in an additional funding round.

What’s interesting is that that investment alone would have made 2021 the biggest year for venture capital investment in the cryptocurrency space. But even ignoring Bullish Global’s capitalization, the remaining US $ 7.2 billion that have come in would already be on par with the previous record of US $ 7.4 billion raised in 2018. This considering that there are still six months to go to the end of the year.

Other large investments

Another big crypto investment came from Ledger SAS, the maker of hardware wallets for Bitcoin and other cryptocurrencies. This company had the second biggest loot so far this year when it raised US $ 380 million from backers led by 10T Holdings.

“I am of the opinion that everyone will have cryptocurrencies, it is just a question of what price they get,” said Ian Rogers, Ledger’s chief experience officer. “We are still in the protocol phase, we know there is something here, you just can’t imagine what it will look like exactly,” he added.

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, Venture capital funds bet $ 17 billion on crypto, Forex-News, Forex-News

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, Venture capital funds bet $ 17 billion on crypto, Forex-News, Forex-News

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