There is absolutely no doubt that the cryptocurrency market has progressed in over the preceding year, as well as more investment businesses are offering their best bets on crypto service providers.
As per the current Media reports, the UK Based Asset Manager, Baillie Gifford has pumped in a whopping $100Mn in core wallet service Blockchain.com. This is one amongst the major investment Blockchain.com has received and funds will be utilized to progress their merchandize and advance their business.
The investment is the integral part of Blockchain.com’s Series C funding round which was declared the preceding month. The funding round was powered in by the DST Global with Lightspeed Venture Partners and VY Capital. The firm has more than 31 million users in more than 200 nations.
Blockchain.com co-founder and chief executive officer Peter Smith addressed the media, “It’s also a validation that a balanced and diversified retail/institutional business has incredible growth potential in the coming years. Today we’re excited to publicly share that Baillie Gifford not only participated in that round but invested $100M — the largest single investment in Blockchain.com to date”
Smith also divulged out that Baillie Gifford is one of the core chief investors in Tesla, Google, Amazon, Airbnb, and more. The asset manager has reserved a low profile but has high values when it comes to investing in start-ups.
Peter Smith further added out that, “As one of their first investments in a crypto company, we’re honoured to include them on our journey to bring the next 1B people into crypto. It’s also a validation that a balanced and diversified retail/institutional business has incredible growth potential in the coming years.”
The preceding month’s funding round carried Blockchain.com’s assessment to $5.2 million. The firm also strategies to go public in the future. Peter Smith also revealed out that, “We want to do it when the moment’s right for us, and we’re figuring out when that is.”
Cryptocurrency start-ups linger to advance investment
The cryptocurrency market’s evolution over the preceding 12 months has fascinated abundant venture capitalists and other investors. Baillie Gifford presently has more than $400 billion in assets under management.
Investments such as the one from Baillie Gifford might be normal moving forward as more financial establishments recognize the worth of Bitcoin and other cryptocurrencies.
Coinbase, which is one of the major cryptocurrencies globally, is worth at nearly $100 billion, media reports stated. The firm recently went public on April 14th. Coinbase registered its shares on Nasdaq under the market symbol ‘COIN’.
It was conveyed that for the years concluded 31 December 2020 and 31 December 2019, Coinbase created total revenue of $1.3 billion and $533.7 million, respectively, net income (loss) of $322.3 million and $(30.4) million, respectively, and accustomed EBITDA of $527.4 million and $24.3 million.
In an establishment filing, Coinbase stated, “We are subject to an extensive and highly-evolving regulatory landscape and any adverse changes to, or our failure to comply with, any laws and regulations could adversely affect our brand, reputation, business, operating results, and financial condition.”
Preceding this month, the cryptocurrency market capitalization hit an all-time high of $2 trillion, rendering to data and market trackers CoinGecko and Blockfolio. Bitcoin alone has touched a market capitalization of $1.1 trillion.