Alphabet’s Venture Capital Unit Invests in Blockchain.com’s $120 Million Funding Round

Blockchain, a cryptocurrency service provider, has raised $120 million in its latest funding round. The funding included investments from Alphabet Inc’s venture capital unit GV.

Other investors in the funding round included hedge fund manager Kyle Bass, investment firms Moore Strategic Ventures, Rovida Advisors, and Lightspeed Venture Partners, and industrial group Access Industries, the company said.

The London-based company said that about 28% of all Bitcoin transactions since 2012 had been routed through its platform.

The total number of unique Blockchain.com wallets created has also reached 67.72 million, up from 32 million at the beginning of 2019 and almost 11 million at the start of 2017, as per their website.

Gaining immense acceptance among mainstream investors and companies, the price of Bitcoin has jumped past $52,000, up from about $30,000 at the beginning of this year.