Blockchain.com Raises $120 Million in a Strategic Financing Round, Firm’s Institutional Arm Swells – Finance Bitcoin News

As the leading crypto asset, bitcoin, broke through the $50,000 mark on Wednesday, Blockchain.com announced it had raised $120 million in a strategic funding round. Blockchain.com says the funding comes at a crucial time, as the company’s wallets now number 65 million in more than 200 countries.

London-basedBlockchain.com receives $120 million from Macro Investors.

Blockchain.com is a popular cryptocurrency company that has been around since 2012. The 17th. In February 2021, co-founder and CEO Peter Smith announced that Blockchain.com had raised $120 million from a number of macro investors.

Smith also recalled how the company raised funds in 2014, with only about two million wallets issued at that time.

Six years later, we’ve come a long way, Smith wrote Wednesday. Bitcoin just surpassed the monumental goal of $50,000. More than 65 million portfolios have been created in over 200 countries. And 28 percent of all bitcoin transactions since 2012 have been conducted on Blockchain.com, accounting for billions of dollars in transaction volume, the co-founder added.

According to Blockchain.com’s announcement, investors in the company’s strategic funding round include Lakestar, Eldridge, Moore Strategic Ventures (Louis Bacon), Kyle Bass, Access Industries, Lightspeed Venture Partners and GV (Google Ventures).

Blockchain.com’s institutional market business is growing significantly

Smith goes on to say that Blockchain.com’s business is growing in the institutional space. This part of the company is large enough to cover all operating costs of the company globally while generating additional operating income, he added.

The pandemic has also led to an unprecedented distrust of traditional financial institutions, which has stimulated demand. The London-based company sees a fundamental shift in global trade, investment and communication. The co-founder of Blockchain.com stressed that he could not be more optimistic about the future.

Paradigms, as in cryptography, can seem to emerge overnight, but for those of us who work day in and day out on cryptographic technologies and innovations, it has taken a long time, Smith said.

The CEO of Blockchain.com told him that cryptocurrencies seem to be the real Robin Hood of the financial world, and he pointed out how a number of well-known companies are adding BTC to their balance sheets.

Our mission is to give everyone, everywhere control of their money, and we’re just getting started, Smith concluded at the fundraising announcement. What worries me the most hasn’t happened yet, he added.

What do you think about Blockchain.com raising $120 million in a strategic funding round? Let us know what you think in the comments below.

Tags in this story

120 million, 65 million wallets, Bitcoin, Bitcoin (BTC), Blockchain.com, Blockchain.com Fundraise, BTC, crypto, cryptocurrency, Eldridge, finance, Funding, Google Ventures, institutional arm, institutional stake, Kyle Bass, Lakestar, Lightspeed Venture Partners, Louis Bacon, Peter Smith, strategic, strategic funding round, portfolios

Photo credit: Shutterstock, Pixabay, Wiki Commons

is bitcoin safe,bitcoin news today,best crypto wallet,bit coin price,Privacy settings,How Search works

You May Also Like

Bitcoin exchanges just saw massive Tether stablecoin deposits

Nearly half a billion tether entries were reported on the 8th. April…

Hedge Fund Manager Says Sell-off in US Treasury Bonds a Threat to ‘High-Flying Assets’ Like BTC

Hedge fund manager Bob Prince warned that the recent selloff in the…

Bitcoin bulls ‘hold back’ as BTC’s monthly futures expiry approaches

Bitcoin (BTC) rose on the 18th. March briefly reached the $60,000 level…

We asked for your craziest crypto story. These are the winners

In all supported Windows versions it is possible to run applications on behalf…