Google parent company Alphabet has invested $1.5 billion into four crypto focus start-ups in the last year. This makes Google the largest public company investor in crypto according to a Blockdata report.
The investment includes digital asset custody firm Fireblocks, the creator of NFT projects NBA Top Shot; Dapper Labs, the node infrastructure provider for Bitcoin’s (CRYPTO: BTC) Lightning Network Voltage; and digital asset venture fund Digital Currency Group.
This investment demonstrates the acceptance of cryptocurrency even though the instability the cryptocurrency market has shown this year.
Google are not the only heavy hitters to have been investing this year.
Samsung, the South Koran home appliance and mobile manufacturers have also invested heavily. It is reported that Samsung has invested over $1 billion in over a dozen of blockchain business in the last 12 months.
The Blockdata report suggests that due to the continued customer demand, means that corporations and banks have begun to increase their exposure to crypto and blockchain services.
“This has led them to make investments in crypto custody, asset management, and trading. As for traditional corporations (Samsung, Microsoft, etc), they are already supportive of the blockchain landscape, as indicated by the funding trend over the years.
What does this mean for the future of crypto?
As we have mentioned already, there has been instability within crypto in the last six months, all-time highs followed by big drops. An example of this would be the world's second-biggest cryptocurrency Ethereum hitting its all-time high at the end of 2021 which followed a crash below $900 only six months later.
But the interest in cryptocurrency remains high. High levels of investment as well as significant interest within popular culture.
Governments across the globe continue to look at legislation which can help make cryptocurrency safer and more appealing to investors. While businesses look to understand how though innovation companies crypto can add value to their business and help them grow.
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