EFG Magazine

From banking to gaming, investors are sending billions of dollars to crypto inventors who seek to disrupt industries. Here’s a look at some of those bets.

A Bitcoin mining facility in Rockdale, Texas. In the first three quarters of 2021, venture capitalists poured $21.4 billion into cryptocurrency and blockchain-related companies, in 1,196 deals.
A Bitcoin mining facility in Rockdale, Texas. In the first three quarters of 2021, venture capitalists poured $21.4 billion into cryptocurrency and blockchain-related companies, in 1,196 deals. Credit... Mark Felix/Agence France-Presse — Getty Images

Published Oct. 29, 2021 Updated Nov. 2, 2021

Venture capitalists are betting billions of dollars to create what in effect is an alternative world of finance, commerce, communications and entertainment on the web that could radically transform major elements of the global economy — all built on the blockchain technology popularized by Bitcoin.

In first three quarters of 2021, venture capitalists poured a record $21.4 billion into cryptocurrency and blockchain-related companies, in 1,196 deals, according to Pitchbook, a market data provider. That is more than five times as much money compared to last year.