Century-old Baillie Gifford Makes Single Largest $100 Million Investment in Blockchain.com
This latest investment from the UK-based money manager, which is known for its early bets on Tesla, Amazon, and Google, is seen as another sign of approval from institutional investors for digital assets.
Baillie Gifford & Co. has invested $100 million in Blockchain.com.
The Edinburgh-based money manager known for early bets on technology stocks like Tesla, Amazon, and Google participated in the latest funding round for the crypto start-up.
This $100 million makes Baillie Gifford the single largest investor in the company today, which according to company founder and CEO Peter Smith, is another stamp of approval from institutional investors for digital assets.
“As one of their first investments in a crypto company, we’re honored to include them on our journey.”
“It’s also a validation that a balanced and diversified retail/institutional business has incredible growth potential in the coming years.”
Just last month, Blockchain.com raised $300 million in a Series C funding round with a valuation of $5.2 billion.
UK-based crypto wallet provider has processed more than $620 billion in transactions since 2013 and boasts of 71 million wallets.
Baillie Gifford, which oversees $445 billion in assets, was founded over a century ago is one of the largest outside investors in Elon Musk’s electric carmaker, which has invested $1.5 billion in Bitcoin and accepts BTC as payment for its cars.