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Laxman Pai, Opalesque Asia: The number of mergers and acquisitions in the crypto and blockchain sectors more than doubled in 2021, and transaction volume boomed to more than $6 billion, said a study.
According to a report from The Block Research the 197 acquisitions that occurred topped the previous high last year, when 85 transactions took place. That growth represents roughly a 130% increase in M&A activity year on year.
Subsequently, crypto mergers and acquisition volumes have so far surpassed $6 billion this year, which is roughly a 730% increase year-on-year, it said.
Crypto asset manager Galaxy Digital, led by bitcoin bull Mike Novogratz, made the first billion-dollar deal in the sector with its May announcement that it would buy BitGo, a digital asset infrastructure provider start-up, for $1.2 billion.
"2021 was a defining year for the blockchain and cryptocurrency sectors where it matured from a nascent industry," the report said.
2021 also marked a high point for investment into institutional-focused digital asset firms. Fundraising in 2021 was nearly three times larger than the 2018 amount, the previous record year. Fireblocks and Ledger led the fundraising with $443 million and $380 million respectively in 2021 alone.
Bitcoin broke its previous all-time high to reach nearly $67k and has gone up ~100% in 2021. The clear market leader in terms added roughly $545 billion to its market capitalization - versus Gold: -2.5%, S&P500: ...................... To view our full article Click here
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