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).
- 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.