Blockchain Achieves $ 3 Billion Valuation
Blockchain Achieves $ 3 Billion Valuation
Blockchain achieved a valuation of $ 3 billion after funding $ 120 million.
London-based cryptocurrency company Blockchain has received a new $ 120 million venture capital fund. Thus, the company raised its private valuation to over $ 3 billion.
The blockchain fundraising coincided with a time when the price of Bitcoin reached its highest value of $ 50,000, and large hedge fund providers such as Stanley Druckenmiller and Paul Tudor Jones invested in cryptocurrency to avoid inflation.
Crypto interest rate, which is greatly supported by funders such as Bank of New York Mellon and Tesla, is called “digital gold”. Among the participants in the last funding round are names such as Alphabet’s GV (formerly known as Google Ventures), Dropbox and Lightspeed, which are called early bettors.
Founded in 2012, Blockchain has raised a total of $ 190 million in venture capital to date. “Probably the global macroeconomic environment has not experienced more uncertainty than it is today,” said Peter Smith, CEO of Blockchain since 2014.
Cryptocurrencies have become an excellent alternative for investors in this process where governments spend very high amounts due to the epidemic.
In the last financing round of Blokchain, it was seen that big companies such as Moore Strategic Ventures, hedge fund manager J. Kyle Bass, Access Industries, Rovida Advisors, Lakestar, Eldridge were pulled from the macro finance world.
Stating that Brockchain does not need to raise money, Smith said that instead, it will open a service branch that offers lending, borrowing and custody facilities in cryptocurrency trading so that it can appeal to more sophisticated financiers.
Stating that the investors “approved the future of crypto”, Smith said that it attracted great interest from investors because of the easy trading process of Bitcoin.
“This is not a trade, it’s an investment,” Smith said.
Stating that the company will examine all strategic options with the board of directors, Smith said that they will go public in the near future.
Founded in 2011, Blockchain had raised nearly $ 40 million, with a private valuation of $ 280 million in June 2017, with the exception of the last fundraised donation. This indicates that the valuation of the company has increased 10 times with the latest fundraising.
Offering consumers cryptocurrency exchanges and digital wallets, Blockchain takes advantage of the revived crypto spirit
“Cryptocurrency has become more like the real Robin Hood of finance than ever before, and it’s time to create a financial system for the internet,” Smith noted in a blog post he shared.
Blockchain’s founder Ben Reeves met with Brian Armstrong, co-founder of America’s largest cryptocurrency exchange Coinbase, but parted ways after the falling-out.
Coinbase is said to be currently directly listed on the Nasdaq exchange with a valuation of $ 77 billion.
Blockchain Achieves $ 3 Billion Valuation
Source: Yahoo.Finance
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