On Wednesday, well-known company Blockchain.com announced that it had raised $ 120 million in a strategic funding round. The funding comes at a significant time, according to Blockchain.com, as the company’s wallets have created 65 million to date in over 200 countries.
London-based company Blockchain.com raises $ 120 million from macro investors
Blockchain.com is a popular cryptocurrency company that has been around since 2012. On February 17, 2021, the company’s 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 money in 2014 and only spent around two million wallets at the time.
“Six years later we have come a long way,” wrote Smith on Wednesday. “Bitcoin has just passed the monumental price target of $ 50,000. Over 65 million wallets have been created in over 200 countries. And 28% of all Bitcoin transactions since 2012 have been processed through Blockchain.com, which corresponds to a transaction volume of billions, “added the co-founder.
According to Blockchain.com’s announcement, investors who participated in the company’s strategic funding round included companies like Lakestar, Eldridge, Moore Strategic Ventures (Louis Bacon), Kyle Bass, Access Industries, Lightspeed Venture Partners, and GV (Google Ventures) .
Blockchain.com’s institutional markets business is growing significantly
Smith said that Blockchain.com’s institutional markets business is swelling due to growth. This part of the business is “significant enough to cover the total operating costs of the business worldwide while generating additional operating profits,” he added.
The pandemic has also created “unprecedented distrust of traditional financial institutions” which has fueled demand. The London-based company sees a fundamental change in the way it does business, investing and global communications. The co-founder of Blockchain.com emphasized that he “couldn’t be more optimistic about the future”.
“Paradigm shifts like crypto can feel like they happened overnight to the world – but for those of us who work day in and day out to develop technology and innovation in crypto, this has been a long time coming,” emphasized Smith.
Blockchain.com CEO told him that cryptocurrencies appear to be the “real Robin Hood of Finance,” and he highlighted how a number of well-known companies are adding BTC to their balance sheets.
“Our mission is to empower everyone to control their money, and we’re just getting started,” concluded Smith while announcing the fundraiser. “What excites me the most has not happened yet,” he added.
What do you think of Blockchain.com, which is raising $ 120 million in a strategic funding round? Let us know what you think on this matter in the comments section below.
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