Google Invests Over $1.5 Billion Into Blockchain Companies

By Tolulope Oke

Between September 2021 and June 2022, Alphabet, the parent company of Google, invested more than $1.5 billion in businesses with a focus on blockchain technology.

This is backed by statistics from Blockdata, a blockchain research company, which ranked 40 of the top 100 public firms based on the amount of money they had invested in blockchain technology over the relevant period.

Comparatively speaking, Alphabet invested the most money into the blockchain sector than any other publicly traded corporation. BlackRock and Morgan Stanley both made investments in the same time period totaling $1.17 billion and $1.11 billion, respectively.

In an updated blog published by Blockdata on Wednesday, Alphabet (Google) was revealed as the investor with the deepest pockets compared to the top 40 public corporations investing in blockchain and crypto companies during the period. In total, 40 companies invested approximately $6 billion into blockchain startups between September 2021 and June 2022.

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With $6 billion invested over this time period, Google has raised its investment in the blockchain sector in line with the other top 40 publicly traded firms, up from $506 million in all of 2020 and $1.9 billion between January and September 2021.

Like Google, Morgan Stanley and BlackRock adopted a more concentrated approach investing in only two to three companies during the period. However, Samsung was by far the most active investor having invested in 13 different companies.

The data also found that companies offering some form of nonfungible token (NFT) solutions have been the most popular investment. The report reads, “Many of these belong to industries such as gaming, arts & entertainment, and distributed ledger technology (DLT).”