Bitcoin, EOS and Icon believer Mike Novogratz(CEO of crypto investment company Galaxy Digital), and his former partner Goldman Sachs have invested in BitGo according to the Bloomberg reports of today.
With the growth of interest in cryptocurrencies from their clients, Novogratz and Goldman Sachs have together invested about 15 million USD in the company that has so far accumulated over 58 million USD on its series B funding round.
BitGo Inc. is the market leader in institutional-grade cryptocurrency investment services, providing institutional investors with security, compliance, and custodial solutions for blockchain-based currencies.
Today, it is the world’s largest processor of on-chain bitcoin transactions, processing 15% of all global bitcoin transactions, and $15 billion per month across all cryptocurrencies. It supports more than 75 coins and tokens, and has over $2 billion in assets in wallet. Their customer base includes the world’s largest cryptocurrency exchanges and spans more than 50 countries.
Now with the outstanding investment from the 2 Wall Street affiliated companies, is BitGo going to lead the way for the wealthy and institutional investors?
The US Banking Goliath has recently had a 25 million funding round for Veem, a blockchain payment startup which aims to make payments (to vendors, suppliers, and contractors etc.) easy for large and small businesses.
Novogratz has recently commented on Fidelity Investments’ decision to release a custody solution tailored to institutional investors. ”The crypto custodians need further testing before having mass interest/adoption”.
It seems like the next Bullrun may be on the verge of its course. Investors from early this year that have been faithfully and painfully riding this bear market can now see light in the end of the tunnel. As for those that haven’t yet dipped their toes in the water, this “one in a lifetime” opportunity could be your chance last.
Article is not a financial advise. Before investing in anything, do your own due diligence.