This exhibits the broader scope in the sector of crypto M&A funding. The report also highlighted that Asia and EMEA (Europe, Middle East and Africa) are gradually becoming the new home and attracting majority of crypto M&A deals and fundraising.
As per PwC Report of 2020, 2018 saw 189 merger and acquisition deals being funded by cryptocurrencies while 2019 witnessed 114 M&A deals. Last few years have witnessed the trend wherein some companies have been considering bitcoins for funding their mergers and acquisition deals. In recent times, we have seen similar supports being showered by the likes of Jack Dorsey, Marc Andreessen, Reid Hoffman, Peter Thiel, Chamath Palihapitiya, and Naval Ravikant. The value of Bitcoins skyrocketed from around $32,000 to nearly $38,000 in January 2021 with the supporting tweets coming from Elon Musk who said bitcoins to be inevitable. The objective behind his brainchild was to allow online payments between two parties in the form of peer-to-peer version of electronic cash without the need for channeling the transactions through financial institutions. It has been 12 years since the idea of bitcoin was conceptualized and proposed by some individual under the pseudonym Satoshi Nakamoto in his paper named “Bitcoin: A Peer-to-Peer Electronic Cash System”.
This article is written by Asmita Topdar, pursuing a Diploma in M&A, Institutional Finance and Investment Laws ( PE and VC transactions) from LawSikho.
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