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.
Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inboxCheck Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Tuso chakma/Salamahin
