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World's Biggest Companies Invested $6B in Blockchain Firms September-June: Study

·1-min read

Forty of the world's largest companies invested about $6 billion in blockchain companies between September 2021 and June 2022, according to a study by Blockdata that looked at the investment activity of the biggest 100 public companies by market cap.

Blockdata used the size of the funding rounds as a proxy for total investment, saying it isn't possible to determine the amount contributed by each participant in a round. Samsung was the most active, investing in 13 companies. Google parent company Alphabet (GOOGL) participated in four funding rounds that raised $1.5 billion for blockchain and crypto-related companies, the largest value.

The study highlights the mainstream acceptance of blockchain technology and the crypto industry. BlackRock (BLK), the world's largest asset manager, took part in rounds valued at $1.2 billion, and Morgan Stanley (MS) participated in $1.1 billion of fundraising activity.

Alphabet invested in four companies, including crypto custody technology provider Fireblocks, Flow blockchain developer Dapper Labs, Bitcoin network infrastructure provider Voltage and investment firm Digital Currency Group, the parent company of CoinDesk.

The study was reported earlier by Blockworks.

Read more: The BlackRock Trust: Crypto Legitimacy or the Beginning of the End for Bitcoin?