110-year-old asset management firm Baillie Gifford has invested $100 mil in bitcoin wallet, trade and explorer tool Blockchain. com.
The CEO and cofounder of cryptocurrency wallet plus exchange service provider Blockchain. possuindo, Peter Smith, has announced that investment management firm Baillie Gifford contributed $100 million to its $300 million funding round held in March.
Per the statement, the 110-year-old asset administration firm became the largest solitary investor in the history of Blockchain. com. Additionally , Blockchain. com is one of the first cryptocurrency companies that Baillie Gifford has invested in.
According to Smith, the investment is usually “a validation that a well balanced and diversified retail/institutional business has incredible growth possible in the coming years. ” He added that “we’re honored to include [Baillie Gifford] on our journey to create the next 1B people in to crypto. ”
Baillie Gifford has made a name for itself within the technological space, as the firm has a knack for choosing emerging leaders. It has invested in companies like Tesla, Search engines, Amazon and Airbnb during the last 20 years, per the announcement.
Blockchain. com was one of the first wallet providers in the Bitcoin space and it also offers a free Bitcoin blockchain explorer tool . But some within the Bitcoin community feel that it could do more to support Bitcoin specifically. Users on Reddit , for instance, have noted accusations that the firm is “subverting segwit adoption” and that it “is broadly believed to never accept it in the future. ”