Venture Capitalists Funnel Nearly $2,500,000,000 Into Crypto in Q1 of 2024: Galaxy Research

Venture Capitalists Funnel Nearly $2,500,000,000 Into Crypto in Q1 of 2024: Galaxy Research

New data from crypto insights firm Galaxy Research finds that during the first quarter of the year, venture capitalists poured in billions of dollars into the digital assets industry.

In a new article, Galaxy Research says that venture capitalists invested $2.49 billion into cryptocurrencies during Q1 of 2024, a 29% quarter-over-quarter (QoQ) rise.

The analytics platform says that heavy investments during Q1 of 2024 signal that Q4 of 2023 could have been the bottom of the market.

Galaxy Research goes on to note that while venture capitalist investments into the crypto space have correlated with the price of Bitcoin (BTC) in the past, the crypto kings massive rise in 2024 caused them to decouple.

Source: Galaxy Research

Bitcoin is trading for $62,754 at time of writing, a 5.2% increase during the last 24 hours.

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