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Crypto M&A Doubled to $1.1B in 2020: PwC
The average deal size went from $19.2 million in 2019 to $52.7 million in 2020, with a greater share of activity taking place in Europe and Asia.
The value of mergers and acquisitions (M&A) in the crypto sector more than doubled to $1.1 billion in 2020, according to a new report by PricewaterhouseCoopers (PwC).
STORY CONTINUES BELOW
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- The average deal size went from $19.2 million in 2019 to $52.7 million in 2020, according to PwC, with a greater share of activity taking place in Europe and Asia.
- Furthermore, 2021 is “already on track to significantly surpass it from every single metric,” Henri Arslanian, PwC’s global crypto leader, said.
- This will be driven by institutional players, large investors and cash-rich crypto platforms, he said.
- PwC’s report predicts institutional investment in the crypto industry will continue to increase, thanks to the interest in non-fungible tokens (NFTs), decentralized finance (DeFi), central bank digital currencies (CBDCs) and stablecoins.
Jamie Crawley
Jamie has been part of CoinDesk's news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE.
