Block.one has announced that a group of strategic investors has closed a deal to invest in the company. It has stated that entrepreneur Peter Thiel together with other investors, Bitmain, Louis Bacon, and Alan Howard have invested. This is the second round that investors have put in money into the blockchain firm. In the first round, Christian Angermayer, Lansdowne Investment Company, and Mike Novogratz of Galaxy Digital invested in Block.one.
Block.one is based in Hong Kong and the publisher of the EOSIO blockchain protocol. This is a superior blockchain that is meant for decentralized applications. It was launched in May last year. The firm is already recognized globally as the first blockchain network for programmers.
Raised $4 billion
Block.one managed to raise a whopping $4 billion through an initial coin offering (ICO). It is going to utilize the new capital to fund its Eos.is blockchain network. The fundraising has surpassed this year’s biggest ICOs on stock exchanges.
The company founders revealed that the platform will enable decentralized apps’ operations in a more efficient manner. They plan to make the network better than other platforms like Ethereum.
The company’s CEO Brendan Blumer stated that “as Block.one prepares to announce its future plans, they are excited to welcome key strategic investors aligned with the company’s values of creating a more secure and connected world”.
Block.one had initially announced the appointment of Rob Jesudason as the Group President. He was the CFO of Commonwealth Bank of Australia. Mike Alexander was also appointed to lead the company’s EOS VC arm. He was a former CEO of Jefferies Asia.
Peter Thiel is a well-renowned venture capitalist who had invested in Facebook. In 1998, he founded PayPal. He has a keen interest in technology firms and has since been associated with LinkedIn, Airbnb, and Yelp. His investment into Block.one signifies his interest on the crypto sector.
Through his venture capital firm, Founders Fund, he has invested lots of money in digital currencies, including Bitcoin. He stated that he was long bitcoin in March. He believes that Bitcoin is much better as a store of value as opposed to a daily transaction currency.