Crypto attracts more money in 2021 than all previous years combined

Venture capital funds have poured about $30 billion into crypto, or more than in all previous years combined for the little more than a decade-old technology. That’s almost quadruple the previous high of around $8 billion in 2018, or the year following Bitcoin’s more than 1,300 per cent breakthrough gain, according to transaction data compiled by PitchBook Data.

“We’ve moved beyond just digital gold. We’ve got financial services, art, gaming as a subcategory of NFTs, Web 3.0, decentralised social media, play-to-earn — all of that made investors think ‘we don’t have enough exposure,’“ said Spencer Bogart, general partner at San Francisco-based Blockchain Capital, one the largest investors in the industry after financing more than 120 companies since its inception in 2013.

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