Blockchain.com Raises US$300 Million as Investors Find Other Ways Into Bitcoin
Kanebridge News
    HOUSE MEDIAN ASKING PRICES AND WEEKLY CHANGE     Sydney $1,480,538 (+0.01%)       Melbourne $960,899 (-0.26%)       Brisbane $805,943 (+0.49%)       Adelaide $760,890 (+0.51%)       Perth $651,708 (+0.03%)       Hobart $728,895 (+0.57%)       Darwin $613,579 (0%)       Canberra $946,216 (+2.14%)       National $956,035 (+0.37%)                UNIT MEDIAN ASKING PRICES AND WEEKLY CHANGE     Sydney $696,616 (-0.38%)       Melbourne $470,588 (+0.14%)       Brisbane $450,511 (+0.19%)       Adelaide $370,041 (+0.13%)       Perth $363,377 (-0.48%)       Hobart $568,887 (+1.25%)       Darwin $342,547 (-0.28%)       Canberra $488,335 (+0.42%)       National $491,956 (+0.17%)                HOUSES FOR SALE AND WEEKLY CHANGE     Sydney 7,426 (+91)       Melbourne 10,303 (-71)       Brisbane 8,928 (-39)       Adelaide 2,407 (+20)       Perth 7,995 (-258)       Hobart 874 (-2)       Darwin 238 (-2)       Canberra 758 (-3)       National 38,557 (-264)                UNITS FOR SALE AND WEEKLY CHANGE     Sydney 6,833 (-17)       Melbourne 6,618 (-36)       Brisbane 1,828 (-2)       Adelaide 460 (-11)       Perth 2,177 (-9)       Hobart 126 (-3)       Darwin 336 (+5)       Canberra 425 (+7)       National 18,641 (-66)                HOUSE MEDIAN ASKING RENTS AND WEEKLY CHANGE     Sydney $680 (+$15)       Melbourne $500 ($0)       Brisbane $560 (-$10)       Adelaide $520 (-$10)       Perth $550 ($0)       Hobart $560 (-$5)       Darwin $700 (+$5)       Canberra $700 (-$20)       National $606 (-$3)                    UNIT MEDIAN ASKING RENTS AND WEEKLY CHANGE     Sydney $600 ($0)       Melbourne $450 ($0)       Brisbane $498 ($0)       Adelaide $420 (-$8)       Perth $480 ($0)       Hobart $485 (+$13)       Darwin $550 ($0)       Canberra $550 (-$10)       National $514 (-$1)                HOUSES FOR RENT AND WEEKLY CHANGE     Sydney 6,843 (+487)       Melbourne 6,880 (+741)       Brisbane 4,325 (+498)       Adelaide 1,251 (+157)       Perth 1,748 (+277)       Hobart 262 (+34)       Darwin 133 (+14)       Canberra 709 (+61)       National 21,516 (+2,269)                UNITS FOR RENT AND WEEKLY CHANGE     Sydney 8,300 (+770)       Melbourne 5,973 (+745)       Brisbane 1,753 (+273)       Adelaide 410 (+74)       Perth 731 (+171)       Hobart 119 (+13)       Darwin 249 (+21)       Canberra 641 (+63)       National 17,293 (+2,130)                HOUSE ANNUAL GROSS YIELDS AND TREND       Sydney 2.34% (↑)      Melbourne 2.69% (↑)        Brisbane 3.58% (↓)       Adelaide 3.60% (↓)     Perth 4.40% (↑)        Hobart 4.04% (↓)     Darwin 5.81% (↑)        Canberra 3.76% (↓)       National 3.30% (↓)            UNIT ANNUAL GROSS YIELDS AND TREND       Sydney 4.47% (↑)        Melbourne 5.00% (↓)       Brisbane 5.88% (↓)       Adelaide 6.19% (↓)     Perth 7.21% (↑)      Hobart 4.59% (↑)      Darwin 8.41% (↑)        Canberra 5.89% (↓)       National 5.43% (↓)            HOUSE RENTAL VACANCY RATES AND TREND       Sydney 1.6% (↑)      Melbourne 1.8% (↑)      Brisbane 0.5% (↑)      Adelaide 0.5% (↑)      Perth 1.0% (↑)      Hobart 0.9% (↑)      Darwin 1.1% (↑)      Canberra 0.5% (↑)      National 1.2% (↑)             UNIT RENTAL VACANCY RATES AND TREND       Sydney 2.3% (↑)      Melbourne 2.8% (↑)      Brisbane 1.2% (↑)      Adelaide 0.7% (↑)      Perth 1.3% (↑)      Hobart 1.4% (↑)      Darwin 1.3% (↑)      Canberra 1.3% (↑)      National 2.1% (↑)             AVERAGE DAYS TO SELL HOUSES AND TREND       Sydney 35.4 (↑)      Melbourne 35.9 (↑)      Brisbane 42.8 (↑)      Adelaide 34.8 (↑)      Perth 43.1 (↑)      Hobart 37.2 (↑)      Darwin 49.3 (↑)      Canberra 38.3 (↑)      National 39.6 (↑)             AVERAGE DAYS TO SELL UNITS AND TREND       Sydney 39.7 (↑)      Melbourne 36.4 (↑)      Brisbane 43.7 (↑)      Adelaide 33.8 (↑)      Perth 46.2 (↑)      Hobart 48.9 (↑)        Darwin 45.9 (↓)     Canberra 33.7 (↑)      National 41.0 (↑)            
Share Button

Blockchain.com Raises US$300 Million as Investors Find Other Ways Into Bitcoin

The investment round gave the company a US$5.2 billion valuation

By Paul Vigna
Thu, Mar 25, 2021 4:36pmGrey Clock 2 min

Blockchain.com, a London-based firm that provides a variety of cryptocurrency services to retail and institutional clients, raised $300 million in a deal that highlights venture capital’s growing willingness to jump back into the bitcoin frenzy.

The investment round gave the company a US$5.2 billion valuation and was led by DST Global, Lightspeed Venture Partners and VY Capital. It comes just one month after the company raised $120 million in a funding round that valued it at $3 billion.

Blockchain.com has 31 million verified users across 200 countries and 70 million digital “wallets,” or software used to store bitcoins. The firm offers retail trading and a range of services for professional investors like credit, structured products, trading and custody. Between debt and equity, the company has raised $1.5 billion since its inception in 2011, according to Chief Executive Peter Smith.

It is a significant amount for a crypto company. The latest capital raise is the third-largest in the industry’s short history, according to research firm CB Insights. In 2018, Bitmain Technologies raised $400 million. Earlier this year, BlockFi raised $350 million and in 2020, Bakkt raised $300 million.

Capital raising also stagnated over the past few years as bitcoin’s price fell from its 2017 highs and remained down. After raising $4.5 billion in 2018, deals have declined to $2.7 billion in 2020. Their re-emergence this year, with three of the six largest to date coming in 2021, is spurring hopes that private investors are returning.

They may be followed by public investors. Later this year, Coinbase Global Inc. will launch its highly anticipated initial public offering. The company plans to sell up to 115 million shares on Nasdaq, raising up to $943 million, according to its most recent filing with the Securities and Exchange Commission.

If that IPO is successful, other crypto companies are expected to follow. Whether Blockchain.com will be one of them hasn’t been determined. “The company is carefully considering its public-market options,” Mr. Smith said.

Blockchain’s business has more than doubled since the start of the year, Mr. Smith said, amid a boom for bitcoin and other cryptocurrencies. If the current rate stays constant, he predicted the company’s 2021 profit would hit a record in the “mid-nine digits.”

That is mainly because the price of bitcoin has skyrocketed over the past year. In March 2020, bitcoin fell to around $5,700. On Tuesday, it was trading around $55,000. The gains have been driven by an influx of money from the likes of billionaire investors including Paul Tudor Jones, companies including Massachusetts Mutual Life Insurance Co. and a new wave of retail, or nonprofessional, investors.

The company plans to use the new capital to hire new employees and to support its institutional business. “The institutional side requires more capital,” Mr. Smith said. “When you’re pitching asset managers they want to see a big balance sheet.”

 

Reprinted by permission of The Wall Street Journal, Copyright 2021 Dow Jones & Company. Inc. All Rights Reserved Worldwide. Original date of publication: March 24, 2020

MOST POPULAR

Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’

Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual

Related Stories
Property
Another rate rise forecast, it’s just a question of how big
By KANEBRIDGE NEWS 06/02/2023
Money
The Retreat of the Amateur Investors
By The Retreat of the Amateur Investors 06/02/2023
Money
Fed Approves Quarter-Point Rate Hike, Signals More Increases Likely
By NICK TIMIRAOS 02/02/2023
Another rate rise forecast, it’s just a question of how big

Amid looming rate rises, there are reasons to be cheerful as mortgage holders head into 2023

By KANEBRIDGE NEWS
Mon, Feb 6, 2023 2 min

Mortgage holders should brace themselves for more pain as the Reserve Bank of Australia board prepares to meet tomorrow for the first time this year.

Most economists and the major banks are predicting a rise of 25 basis points will be announced, although the Commonwealth Bank suggests that the RBA may take the unusual step of a 40 basis point rise to bring the interest rate up to a more conventional 3.5 percent. This would allow the RBA to step back from further rate rises for the next few months as it assesses the impact of tightening monetary policy on the economy.

The decision by the RBA board to make consecutive rate rises since April last year is an attempt to wrestle inflation down to a more manageable 3 or 4 percent. The Australian Bureau of Statistics reports that the inflation rate rose to 7.8 percent over the December quarter, the highest it has been since 1990, reflected in higher prices for food, fuel and construction.

Higher interest rates have coincided with falling home values, which Ray White chief economist Nerida Conisbee says are down 6.1 percent in capital cities since peaking in March 2022. The pain has been greatest in Sydney, where prices have dropped 10.8 percent since February last year. Melbourne and Canberra recorded similar, albeit smaller falls, while capitals like Adelaide, which saw property prices fall 1.8 percent, are less affected.

Although prices may continue to decline, Ms Conisbee (below) said there are signs the pace is slowing and that inflation has peaked.

“December inflation came in at 7.8 per cent with construction, travel and electricity costs being the biggest drivers. It is likely that we are now at peak,” Ms Conisbee said. 

“Many of the drivers of high prices are starting to be resolved. Shipping costs are now down almost 90 per cent from their October 2021 peak (as measured by the Baltic Dry Index), while crude oil prices have almost halved from March 2022. China is back open and international migration has started up again. 

“Even construction costs look like they are close to plateau. Importantly, US inflation has pulled back from its peak of 9.1 per cent in June to 6.5 per cent in December, with many of the drivers of inflation in this country similar to Australia.”

MOST POPULAR
Commercial Market

Commercial property sentiment has improved for a consecutive quarter.

Clean Air

Technology that seamlessly fixes air quality will become widespread in homes by 2030, real-estate developers say. Will homebuyers care once the pandemic subsides?

0
    Your Cart
    Your cart is emptyReturn to Shop