UK-based tech investor Baillie Gifford has invested around $100 million in major cryptocurrency wallet service Blockchain.com, media reports said. The investment is part of Blockchain.com’s Series C funding round which was announced last month. The funding round was led by DST Global with Lightspeed Venture Partners and VY Capital. The company has more than 31 million users in more than 200 countries.
Blockchain.com co-founder and chief executive officer Peter Smith told the media, “It’s also a validation that a balanced and diversified retail/institutional business has incredible growth potential in the coming years.”
Last month’s funding round brought Blockchain.com’s valuation to $5.2 million. The company also plans to go public in the future. Peter Smith added, “We want to do it when the moment’s right for us, and we’re figuring out when that is.”
Coinbase, which is one of the biggest cryptocurrencies in the world, is valued at nearly $100 billion, media reports said. The company recently went public on April 14th. Coinbase listed its shares on Nasdaq under the market symbol ‘COIN’.
In a company filing, Coinbase said, “We are subject to an extensive and highly-evolving regulatory landscape and any adverse changes to, or our failure to comply with, any laws and regulations could adversely affect our brand, reputation, business, operating results, and financial condition.”
It was reported that for the years ended 31 December 2020 and 31 December 2019, Coinbase generated total revenue of $1.3 billion and $533.7 million, respectively, net income (loss) of $322.3 million and $(30.4) million, respectively, and adjusted EBITDA of $527.4 million and $24.3 million.
Earlier this month, the cryptocurrency market capitalisation hit an all-time high of $2 trillion, according to data and market trackers CoinGecko and Blockfolio. Bitcoin alone has hit a market capitalisation of $1.1 trillion.