BitGo’s Digital Assets Under Custody Surpasses $16 Billion For The First Time
BitGo’s Digital Assets Under Custody Surpasses $16 Billion For The First Time
December 26, 2020
BitGo’s Digital Assets Under Custody Surpasses $16 Billion For The First Time
BitGo’s Digital Assets Under Custody Surpasses $16 Billion For The First Time
December 26, 2020

BitGo’s digital assets under custody have surpassed $16 billion for the first time, offering further validation that institutional demand has arrived. 

It has been reported that BitGo said institutional investors are seeking exposure to digital assets “for custody, trading, and lending.”

Mike Belshe, the CEO of BitGo, said:

“We’re seeing unprecedented interest from institutional investors as a result of the pandemic’s economic impact, as well as Bitcoin’s extraordinary performance.”

However, BitGo has expanded to provide liquidity, custody, and security solutions for institutional investors, as the company claims to process over 20% of all global Bitcoin (BTC) transactions and supports over 300 digital assets.

The report said that BitGo made headlines a few months ago after anonymous sources told Bloomberg that the company had become an acquisition target of PayPal Inc. Representatives from both companies refused to comment at the time. Demand for institutional-grade crypto has been on the rise this year, as Bitcoin’s digital gold narrative continues to attract new investors.

ALSO READ :  Chinese Authorities Seized Nearly 7,000 Crypto Mining Machines

Thus, companies like Grayscale, PayPal, MicroStrategy, Ruffer Investment Group, and MassMutual have been at the center of the adoption drive.

Source: Cointelegraph


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Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with an experience of 1 year. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space, as she loves writing about blockchain and other blockchain-related articles. Currently, she is working on blockchain-based news, reviews, featured articles, and guides.