According to the latest reports, Baillie Gifford has made a huge investment in one of the top cryptocurrency firms. The sources have confirmed that Baillie Gifford has reportedly invested $100 million in Blockchain.com, which is a prominent wallet provider for cryptocurrencies.
Baillie Gifford is one of the oldest asset management firms that has been around for over 110-years. The firm is widely known for its contribution in providing support to Tesla, which faced many obstacles when it had started operating.
Baillie Gifford had invested in Tesla at a time when corporations from all over the world had opposed it and its idea. Even when the banks from the United States had rejected Tesla’s request for loans, Baillie Gifford had trusted the potential of Tesla.
Today, Tesla is the largest electric car manufacturing company in the entire world and every traditional car-manufacturing giants such as Volkswagen, Mercedes, BMW, and many more are trying to compete with it.
The reason behind sharing the story of Tesla is to demonstrate the amount of significance there is when it comes to Baillie Gifford making an investment in a project.
The previous investment of Baillie Gifford shows that the firm had made the right choice and the right investment. Therefore, it can be perceived that even the latest investment made by Billie Gifford in Blockchain.com would hold much significance.
Peter Smith had made the announcement of Baillie Gifford making a $100 million investment in Blockchain.com. Peter Smith is reportedly the chief executive office and the co-founder of Blockchain.com.
Smith confirmed the investment that Baillie Gifford made was during a funding round that Blockchain.com had held back in March. Baillie Gifford not only led the funding round for Blockchain.com but it also contributed in it with its $100 million investment.
According to sources, the funding round held by Blockchain.com back in March had managed to generate $300 million. He stated that so far, Baillie Gifford is the firm that has made the highest individual investment in Blockchain.com.
Furthermore, the investment round in which Baillie Gifford contributed was the first ever investment made by Baillie Gifford in the entire cryptocurrency space.
As stated earlier, Blockchain.com receiving investment from Baillie Gifford serves as a validation from the asset manager that Blockchain.com has approval from Baillie Gifford to operate in the world.
Smith stated that BLockchain.com has made a lot of progress and the past years, and it would turn out fortunate for the project in near future.
At the time of writing, Baillie Gifford has more than $445 billion worth of Asset-Under-Management. Out of the total assets, Baillie Gifford was able to bring home a total of $28 billion from the users.