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Google Commits $1.5B to Blockchain Business Ventures

A recent report claims that Alphabet, the parent company of Google, invested $1.5 billion in its blockchain business between September 2021 and June 2022, more than any other publicly traded corporation.

The company has invested $1.5 billion in blockchain technology, concentrating on four companies:

  • Custody of digital assets platform fire blocks
  • Web3 game developer Elegant Labs Bitcoin infrastructure tool Tension
  • Venture capital firm Digital Currency Group

Stylish Labs, Alchemy, Blockchain.com, Cello, Helium, and Ripple were among the 17 blockchain-based companies that Google distributed their drastically reduced $601.4 million fundraising effort last year.

Similar to other leading businesses, Google has boosted its investment in blockchain. Investment totals $1.9 billion between January 2021 and September 2021 and $506 million throughout the entire year of 2020, compared to 40 publicly traded companies with a combined investment of $6 billion.

The wealth management company is another important institutional investor. Investment banking firm Morgan Stanley receives investments totaling $1.11 billion from Black Rock, while electronics manufacturer SAMSUNG received investments totaling $979.2 million.

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