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Venture Capital Funds Boosts Crypto Investments, Bringing 2021 totals to $17 Billion
In just 2021, Venture Capital Funds have invested over $17 billion in the crypto market. Compared to all previous years combined from 2010, 2021 beats all of them by $7.4 billion.
Despite the tumbles that the cryptocurrency world is going through now, this shows optimism that the price may go higher in the future.
It’s Not Just Venture Capital
In terms of their investments in the crypto market, companies have been particularly active, according to a market data company, PitchBook.
Block. One’s $10 billion was the biggest deal in 2021 alone, where it invested in Bullish Global crypto exchange. In the funding round, the exchange raised another $ 300 million. So the single deal itself shattered the record for the year’s crypto investments.
Circle took the second largest investment in 2021 when it raised $400 million from many institutional and strategic investors. According to a release, the platform has enabled over 100 million transactions by more than 10 million retail clients and 1,000 companies. In the recent past, Circle has also been a partner to Visa to help network companies settle USDC transactions. Last year, more than 615 billion dollars in transactions were supported by the USDC, increasing over 28 thousand percent in the past 12 months.
Ledger also received a $380-million investment into the crypto wallet company. The funding comes from 10T Holdings, a mid-to-late growth fund with investment in the digital asset ecosystem in private firms.
Other significant crypto investments include BlockFi and Dapper Labs for $350 million, Paxos and Blockchain.com with $300 million, Blokkt with $300 million, and Coinbase with $300 million.
Investments in Crypto have Become the Real Deal.
The interest in the crypto space has risen in 2021 as corporations are looking to obtain market exposure. Andreessen Horowitz announced that after the enormous success in Coinbase, he would form a crypto investment fund for $1 billion.
Earlier this year, Galaxy Digital made efforts to purchase BitGo, a digital infrastructure provider independent of $1.2 billion. In addition, Goldman Sachs recently revealed its collaboration and recent acquisition with Galaxy Digital in providing future bitcoin trade.
Global regulators have certainly concerned themselves with the possible volatility spillover in the traditional capital markets from digital asset pricing. However, they cannot permit corporations holding considerable proportions of the volatile assets in their balance sheets to be granted meaningful proxy approval by the back door.
May was a rather interesting month in the U.S. and on the crypto front generally. The Biden administration finally went beyond vague pronouncements and pointed out what new crypto-regulations mean for the industry.