Blockchain.com Secures $120 Million Funding for Strategic GrowthFebruary 17, 2021
Blockchain.com, a cryptocurrency services provider, announced today that it has raised $120 million for the company’s strategic growth from leading global macro investors. New York-based Moore Strategic Ventures also participated in the strategic funding round.
According to the official announcement, nearly 28% of all Bitcoin transactions since 2012 have occurred on Blockchain.com. The company has seen significant growth since its Series A round in 2014 with billions of dollars in transaction volume.
Peter Smith, co-founder and CEO of Blockchain.com mentioned that Moore Strategic Ventures (Louis Bacon), Kyle Bass, Access Industries, Rovida Advisors, Lightspeed Venture Partners, GV (aka Google Ventures), Lakestar, Eldridge, and several other firms participated in the latest funding round.
Commenting on the recent growth of Bitcoin and a surge in institutional adoption of cryptocurrencies, Smith said: “What excites me most about this moment is the immense optimism about cryptocurrency from serious, institutional investors. In fact, the current bull run is dominated by stories of Fortune 500 companies, investment funds, and institutions driving net inflows into crypto. The fact that the best macro investors in the world participated in our latest fundraise is further proof that institutions are taking a serious look at their crypto strategy.”
Smith also outlined the growth of the company’s Institutional Markets Business and mentioned that corporates are playing a major role in the adoption of digital assets. “Our Institutional Markets business is growing exponentially, and while the Wallet remains the core of our business, our Institutional business is now significant enough to cover the entire operating cost of the business globally while also delivering additional operating profits,” the CEO of Blockchain.com added.
Smith termed crypto as the real Robin Hood of finance and mentioned that large companies around the world are adding Bitcoin to their balance sheets.
The cryptocurrency market touched the overall market cap of $1.55 trillion today after Bitcoin jumped above $51,000 for the first time in history. BTC currently has a market cap of nearly $950 billion.
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