Need more proof that this is the year digital assets went mainstream? How about the fact that 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% breakthrough gain, according to transaction data compiled by PitchBook Data Inc.
"We’ve moved beyond just digital gold. We’ve got financial services, art, gaming as a subcategory of NFTs, Web 3.0, decentralized 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 LLC, one the largest investors in the industry after financing more than 120 companies since its inception in 2013.