April 18, 2024
blockchain.com 120m strategic ventures lightspeed venture

We’re delighted to announce today that Blockchain.com completed a strategic fundraising round, securing $120 million from some of the top macro investors in the world. These investors include GV (formerly known as Google Ventures), Lakestar, Eldridge, Access Industries, Kyle Bass, Rovida Advisors, Lightspeed Venture Partners, Moore Strategic Ventures (Louis Bacon), and others.

There were not many venture-backed crypto firms when we went out to raise our Series A in late 2014. At that time, we were happy to power more than 2 million public bitcoin wallets, with each bitcoin being worth hundreds of dollars.

After six years, we have made great progress. Bitcoin recently surpassed the historic $50k price goal. In more than 200 countries, over 65M wallets have been made. Additionally, 28% of all Bitcoin transactions since 2012—representing a volume of transactions in the billions—have taken place via Blockchain.com.

The overwhelming optimism that professional, institutional investors have about cryptocurrencies at the moment is what excites me the most. In fact, tales of Fortune 500 firms, hedge funds, and other organizations fueling net inflows into cryptocurrency have dominated the current bull run. The fact that the top macro investors in the world took part in our most recent fundraising is more evident that organizations are seriously considering their crypto strategy.

While the Wallet remains the foundation of our business, our Institutional Markets business is expanding quickly and is now substantial enough to pay the whole operating cost of the firm globally while also generating additional operational profits.

Why now?

During a worldwide pandemic, traditional financial institutions are facing an unprecedented level of mistrust, an increase in online trade. A major transformation in communication, business, and investing that will forever alter the world.

Cryptocurrency is starting to resemble the actual Robin Hood of finance more than ever. a decentralized network where anyone with a mobile device and an internet connection may produce and store value. We’re seeing an all-time high as businesses include bitcoin on their balance sheets and central banks pay attention to DeFi developments.

It seems a little odd to me that fundraising is news. To be clear, I appreciate all the effort the team has made to further the development of Blockchain.com and the cryptocurrency industry in general, but what excites me hasn’t happened yet. We’re only getting started, but our objective is to provide everyone, everywhere, the ability to manage their money.

Regarding Blockchain.com

The globe is being connected to the financial future by blockchain.com. The organization, which has its headquarters in London and an international team dispersed throughout the globe, is the most reputable and quickly expanding cryptocurrency company, assisting millions of people worldwide — from individuals to the biggest institutions — in securely accessing cryptocurrency.

With regards to Access Technology Ventures

The $2+ billion venture capital and growth technology investment arm of Access Industries, a privately held US-based industrial corporation with $20+ billion in global strategic assets, is called Access Technology Ventures. Leading tech firms like Amazon, Alibaba, Facebook, Digital Ocean, PinDuoDuo,Opendoor, Square, Snap, and Tencent Music are among those in Access Technology Ventures’ portfolio.