Amount of investment in Bitcoin and blockchain sector decreased in Q3 2016

posted about 2 years ago
The latest edition of KPMG and CB Insights report “Pulse of Fintech Q3’16” shows a dip in investments going into blockchain and digital currency startups.

The report anticipates that in the forthcoming quarters, artificial intelligence (AI) will gain more investor attention in addition to RegTech, InsurTech and data and analytics.

It also expects fintech areas that have emerged over the past year, particularly blockchain or distributed ledger technology (DLT), may be scrutinized more as investors assess when and if investments will deliver returns.

According to the report, the blockchain and bitcoin investment activity dropped to $87 million in the third quarter of 2016, from $119 million in the second quarter. The investment peaked in the first quarter when the total investment stood at $153 million.

The number of deals has also declined from 22 in Q1, to 17 in Q3 and 13 in Q3. The top deals in the bitcoin and blockchain space include Ripple with $55 million series B funding, Coinbase with $10.5 million series C-II funding and Brave Software with $4.5 million venture capital funding.
Tags: blockchain, news