Crypto News - Early Tesla financier Baillie Gifford invests $100M in Blockchain - Bitcoin News

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Crypto News - Early Tesla financier Baillie Gifford invests $100M in Blockchain - Bitcoin News.

https://www.youtube.com/watch?v=iQXM--2r4ss

Early Tesla investor Baillie Gifford invests $100M in Blockchain

Big tech financier Baillie Gifford has actually backed the largest single investment in major crypto wallet service Blockchain.com.

Baillie Gifford, a 110 year-old asset management firm known for its early bets on firms like Tesla, has actually invested $100 million in significant cryptocurrency wallet service Blockchain.com.

Blockchain.com co-founder and CEO Peter Smith announced Wednesday that Baillie Gifford's contribution to its $300 million financing round in March has become the largest single investment in the business up until now. Smith mentioned that Baillie Gifford's involvement in the round significant "among their very first financial investments in a crypto company."

"It's likewise a recognition that a balanced and varied retail/institutional business has amazing development potential in the coming years," the CEO composed.

With over $445 billion in properties under management, Baillie Gifford has emerged as a major tech investor, gaining nearly $28 billion by wagering early on Tesla and Alibaba, and pharmaceutical company Moderna. One of the largest outdoors Tesla investors, Baillie Gifford reaped a $16 billion benefit from its Tesla investment alone as of August 2020. The business is also known for backing companies like Google, Amazon and Airbnb.

Baillie Gifford's bet on Blockchain.com comes amid increasing financier attention to the company and the wider crypto industry. United Kingdom-based Blockchain.com is one of the most significant charity events this year, securing $420 million in 2 funding rounds in February and March and bringing the company to a $5.2-billion evaluation.

According to data from service analytics firm CB Insights, crypto and blockchain firms consisting of Blockchain.com, BlockFi and Dapper Labs got more financing in the very first quarter of 2021 than over the entire course of 2020.

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