Bitcoin companies raise more than $3 billion in financing by 2020
According to a research report by The Block Research, there has been considerable investment in the landscape of bitcoin companies this year. A total of more than $3.1 billion was funded by companies in the sector this year.
In addition, more than $690 million in mergers and acquisitions were made in the world.
Bitcoin companies are slowly maturing
Bitcoin began 2009 as an experiment and was for a long time a toy of computer nerds who were fascinated by the system. However, it didn’t take long for bitcoin to gain an exchange value in business and has grown explosively ever since.
In the meantime, bitcoin compass scam has created an impressive landscape of companies that keep the industry going. The figures from The Block Research show that more and more money is being spent on this as well.
Despite the consequences of covid-19, the industry has done no less this year in terms of funding than it did in 2019. With a total of $3.1 billion in funding and in terms of mergers and acquisitions even a new record with a volume of 83 transactions.
Little burden of covid-19
In March it seemed for a while that bitcoin was going to have a hard time with covid-19, but now all doubts can be put aside. The course has been going through the roof for weeks and that also has a positive effect on the industry.
Although the foundation and M&A volume has fallen slightly after the first two quarters of 2020, the industry can provide impressive figures.
The number of 83 M&A transactions is a record, but in terms of dollar volume we are not at a record $691 million. The acquisitions of CoinMarketCap, Blockfolio and Tagomi together accounted for 96% of the total dollar volume.
The largest transaction was Binance’s acquisition of CoinMarketCap. The Asian exchange paid the bizarre amount of $400 million for the website where you can always go for the prices of almost all cryptocurrencies.