According to PwC, one of the top accounting organisations in the United States, merger and acquisition agreements in the cryptocurrency business, also known as M&As, have surged dramatically in 2021, with associated value soaring about 5,000 percent. According to a new analysis released by PwC on Wednesday, the total amount of crypto mergers and acquisitions increased 4,846 percent last year, with the average deal value rising to $180 million from $53 million in 2020.
Crypto fundraising transaction volumes increased by 645 percent in 2021, with blockchain investor AU21, Genesis Block Ventures, Genblock Capital, Coinbase Ventures, and Moonwhale among the top-five investors by deal count. According to the analysis, special-purpose acquisition companies (SPAC) deals contributed to the significant increase in crypto M&A in 2021. Henri Arslanian, a crypto leader at PwC, stated that there is no sign of crypto fundraising slowing down anytime soon.
The new analysis follows PwC’s Jan. 24 release of a new study on worldwide M&A trends in technology, media, and telecommunications. According to the report, 2021 was a record year for crypto mergers and acquisitions, with 600 total agreements, more than double that of 2020.
The digital asset market was gaining “broader popular acceptance” in 2021, according to PwC, with traditional banking corporations aiming to integrate crypto into their core businesses through mergers and acquisitions. Companies from a variety of industries were also striving to integrate and monetize non-fungible tokens into their main businesses, according to the firm.
It’s a wrap for this story.
