Switzerland's Crypto Valley has seen a 680% leap in the value of its largest fifty companies since July 2020.
A report, published by Zug's Crypto Valley Venture Capital, said that as of February 2021, the 50 largest firms in the area were worth $254.9bn, compared to $37.5bn in the middle of last year.
The report also noticed a small increase of blockchain firms, up by 4.4% to 960 since July.
However, the main focus was on companies generating more wealth during the period. Employees in the digital sector increased to 5,184 or 8.5% since July.
Crypto Valley is already a host to some important Unicorn companies too, including Dfinity, Near, Nexo, Diem, Ethereum, Cardano, Polkadot and others.
While there were fears that the pandemic would write off much of the Valley's value, these have not come to pass.
“After entering the Corona crisis in March 2020 with certain fears, we are now confident about the future. The positive development was already apparent in September,” the report said.
In September 2020, the government allowed Zug residents to pay up to $108,000 of their taxes in Bitcoin or Ethereum. While institutional interest in Bitcoin has been growing significantly, so has the interest in recreational uses.
From NFT tokens to traditional casino gaming, there are plenty of options to use Bitcoin and Ethereum recreationally. In fact, some of the best casinos supporting these cryptocurrencies are Bitcasino, BitStarz, and 1xBit.