Big Tech Plots Move For Major Crypto Takeover

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Last Updated on 31 March 2021 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / jeroen@cryptotips.eu
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Back in 2012, Facebook CEO Mark Zuckerberg approached a little known startup that was only 2 years old. The group of web developers were found in a small apartment and had already attracted millions of users for their new app.

At the time, they were only offering square pictures on a little known social media platform where users could attract followers for their pictures. Zuckerberg immediately recognized the future potential and offered the founder 1 billion dollars for his company.

At the time, Lee Simpson, Senior Equity Research Analyst from Jefferies International told the BBC that the offering had something of a smack of the dot com era to it, meaning that the market thought Facebook was crazy to offer 1 billion dollars for a little company with a weird sounding name. Name of that company was Instagram.

Zuckerberg ordered his engineers to add video and by 2021, the valuation of Instagram according to Investopedia is close to 100 billion dollars. Quite the investment of course.

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2010s versus 2020s

Whereas the 2010 decade (from 2010 to 2019) was undoubtedly the era of big tech (FAANG and other social media behemoths), many market analysts now assume that the 2020 decade could become that of cryptocurrency.

It all started last year in fact when the biggest crypto M&A became a $400 million deal. It was when crypto exchange Binance sought to buy CoinMarketCap, the data analytics site. A few weeks ago, one of the newest entrants to the cryptosphere, PayPal, also started to realize the enormous potential of the crypto market. It confirmed its acquisition of crypto security firm Curv for nearly $200 million.

By now, consultancy PricewaterhouseCoopers (PWC) claims that the Silicon Valley companies, aka Big Tech, will be the next to do a takeover, only this time expect the valuation to be in the billions of dollars.

In their newest read, called Global M&A and fundraising report, PWC said that they:

Expect to see more institutional players consider entering in the crypto industry through investments or acquiring companies as part of their buy or build analysis in 2021.

Already we’re wondering which crypto company is getting a call from Zuck soon.