Market Analysis Report (17 Aug 2022)

American technology conglomerate and the parent company of Google, Alphabet Inc., has reportedly invested more capital into the blockchain industry than any other public company, investing $1.5bn between September 2021 and June 2022, a new report shows.

In previous years, Alphabet had diversified a much smaller war chest, investing $601.4mn in funding across 17 blockchain-based companies, featuring the likes of Dapper Labs, Blockchain.com, Celo, Ripple and Helium.

More recently, however, Alphabet concentrated its investments on four blockchain companies, namely crypto infrastructure firm Fireblocks, Web3 gaming company Dapper Labs, Bitcoin infrastructure startup Voltage and a Digital Currency Group, which is the parent company of Grayscale, the world’s largest digital currency asset manager.

Other big corporations that invested in the blockchain space include the world’s largest asset manager BlackRock, which invested $1.17bn and financial services giant Morgan Stanley, which invested $1.11bn. Morgan Stanley and BlackRock adopted a similar strategy to Alphabet, concentrating their investments in two to three companies.