On Wednesday, as the leading crypto asset bitcoin has been riding above the $50k handle, the well known firm Blockchain.com announced the company has raised $120 million in a strategic financing round. Blockchain.com says the financing comes at a momentous occasion, as the firmâ€™s wallets have seen 65 million created to-date in over 200 countries.
London Firm 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 companyâ€™s cofounder and CEO, Peter Smith, revealed Blockchain.com has raised $120 million from a number of macro investors.
Smith also recalled how the company raised money in 2014 and they only had around two million wallets issued at the time.
â€œSix years later, weâ€™ve come a long way,â€ Smith wrote on Wednesday. â€œBitcoin just crossed the monumental price target of $50k. Over 65 million wallets have been created in 200+ countries. And 28% of all bitcoin transactions since 2012 have occurred via Blockchain.com, representing billions in transaction volume,â€ the cofounder added.
According to Blockchain.comâ€™s announcement, investors who participated in the companyâ€™s strategic financing round include firms like Lakestar, Eldridge, Moore Strategic Ventures (Louis Bacon), Kyle Bass, Access Industries, Lightspeed Venture Partners, and GV (Google Ventures).
Blockchain.comâ€™s Institutional Markets Business Sees Significant Growth
Smith further says that Blockchain.comâ€™s Institutional Markets business is swelling from growth. That part of the business is â€œsignificant enough to cover the entire operating cost of the business globally while also delivering additional operating profits,â€ he added.
The pandemic has also added an â€œunprecedented level of distrust in traditional financial institutions,â€ which has spurred demand. The London-based company sees a fundamental shift coming when it comes to commerce, investments, and global communications. Blockchain.comâ€™s cofounder stressed that he â€œcouldnâ€™t be more optimistic about the future.â€
â€œParadigm shifts like crypto can feel to the world as though they happened overnightâ€” but for those of us working day in and day out to build technology and innovation in crypto, this has been a long time coming,â€ Smith insisted.
The Blockchain.com CEO said to him, cryptocurrencies seem like the â€œreal Robin Hood of finance,â€ and he highlighted how a number of well known firms are adding BTC to their balance sheets.
â€œOur mission is to empower anyone anywhere to control their money and weâ€™re just getting started,â€ Smith concluded during the fundraising announcement. â€œWhat Iâ€™m most excited about hasnâ€™t happened yet,â€ he added.
What do you think about Blockchain.com raising $120 million in a strategic financing round? Let us know what you think about this subject in the comments section below.