Crypto
Architect Partners’ stories published that mergers and acquisitions (M&A) hit an all-time high in Q1 2023. Are crypto companies looking out out for an exit?
According to a Bloomberg article, there had been 54 transactions associated to crypto M&A deals in the first quarter of 2023. The article cites data from Architect Partners, an M&A advisory agency.
The crypto M&A exceeded the previous represent of 53 deals from Q4 2021 when Bitcoin hit an all-time high of $69,000.
Crypto Companies Resorting to M&A as an Exit?
Michael Ashe, the head of funding banking at Galaxy Digital, acknowledged, “Companies that would possibly well had been ready to raise capital in a bull market are discovering it refined to make so now and are turning to M&A as an exit.”
The statistic that approximately 65% of the mergers and acquisitions in the last quarter had been initiated by one crypto firm acquiring any other, talked about in the Architect’s represent, would possibly perhaps enhance Ashe’s comment.
The represent moreover published that private crypto financing diminished from $12 billion in Q1 2022 to $3 billion in the previous quarter.
Nonetheless, with Bitcoin’s mark surging by 80% in 2023, there has been a corresponding uptick in the amount of crypto enterprise capitalist deals.
BeInCrypto previously reported that the amount of funding deals closed rose to 439 in Q1 2023 compared to 366 in Q4 2022.
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