Edinburgh’s Baillie Gifford remains a big name in the tech industry for years. The 110-year old firm features an honorable track record of investing in technical projects. It backed up establishments like Amazon, Google, Airbnb, Tesla, Alibaba & Moderna.
Of course, the firm gained worldwide recognition with its investment in Tesla. It reported a $16BN profit from the Tesla business alone in 2020.
Meanwhile, London-based blockchain.com is one well-set name in crypto wallet & exchange service. The digital establishment allows clients to buy, store & sell major cryptocurrencies like bitcoin.
Currently, it’s one of the largest, most promising & growing crypto companies in the UK. Multiple interested investors in cryptocurrency are consistently stepping forward to raise its funds.
And now, the Scottish mortgage stands to approve bitcoin for extensive market growth. The company declared to plow a $100MM or £72M investment in the platform.
“Baillie Gifford will invest in Blockchain.com through cash injection” (Credit – Borders Book Festival)
Such a massive cash injection in a direct method from Baillie Gifford will suffice the investment. The CEO of Blockchain.com, Peter Smith, confirms the mortgage to participate in its business. He already suggested a huge incoming investment to support its aggressive expansion of products.
The firm currently holds a $445.3BN value in terms of Assets Under Management (AUM). It’s the first such investment by Gifford in any crypto company. The approval validates a diversified, balanced business with superb growth potential – he said.
Not to mention, Peter also declared the $100MM to be the single largest investment in the start-up. He also claimed to be honored to include the firm in its journey.
Moreover, the announcement took place following its $300MM funding round within a month. In this case, the key investors were DST Global, VY Capital & Lightspeed Venture Partners. But it’s the first time for Gifford to take an active part in the business.
It clearly depicts the increased investor attention towards the trending sector. And blockchain.com retains the top position with continued funding. However, it’s still to see the number of benefits from the investment.