One of the biggest accounting firms in the world is revealing that the value of crypto mergers and acquisitions exploded almost 5,000% in 2021.
According to a new report by global accounting giant PricewaterhouseCoopers (PwC), the value of crypto mergers and acquisitions surged from $1.1 billion in 2020 to $55 billion in 2021.
“The total value of crypto [mergers and acquisitions] in 2021 has mirrored the rally in crypto prices, with an increase of 4,846%.”
Furthermore, the research shows that the average deal size increased 3x during the same time span.
“The average deal size has also increased 3x from $52.7 million to $179.7 million, driven by some mega $1 billion+ special-purpose acquisition company (SPAC) deals.”
The accounting titan says that the billion-dollar deals in the crypto space are a sign that the nascent industry is maturing.
“[The] top 10 merger and acquisition deals in 2021 saw a significant increase in deal values, with numerous deals valued at over $1 billion in 2021 as compared to none in 2020.
We saw larger and more developed crypto companies becoming more active in mergers and acquisitions, a sign that the crypto industry continues to mature and consolidation is beginning to occur.”
PwC also notes that crypto fundraising is also on the up and up with 2021 being a banner year for the industry.
“[The] total amount raised by companies in the crypto industry has increased by almost 8x in 2021 and reached a record $34 billion – exceeding the amount from all prior years combined.”
In 2020, firms in the crypto space were able to raise $4.6 billion and $3.09 billion the year prior.
You can read the full report here.
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