As cryptocurrency prices tumbled across the board last year, venture capitalists focused their attention on the promise of the underlying technology, the ledger known as blockchain . That, many said, was the smarter bet.Now, the tables have turned.While Bitcoin’s price has rebounded this year, a fresh batch of data shows the flow of cash into blockchain startups dropped dramatically. So far, traditional venture capital investments in blockchain companies have totaled $784 million via 227 deals, according to CB Insights. Maturing startups are drawing less support, while young startups are faring better, it said.The trends have significant implications for Silicon Valley and Wall Street , because U.S. blockchain startups have been the biggest recipients of venture capital since 2014, according to CB Insights. “It took a little bit for the enthusiasm to wear off.”

Source: Economic Times July 18, 2019 03:22 UTC