How to Buy BitGo Stock in 2024

Bypreipodata Reading Time: 3 minutes

BitGo, founded in 2013, is a pioneer in digital asset security and infrastructure, known for its multi-signature wallet technology and Threshold Signature Scheme (TSS). The company provides a wide range of services, including regulated custody, financial services, and core infrastructure for institutional clients. BitGo is a key player in the digital asset economy, processing approximately 20% of all global Bitcoin transactions by value and serving over 1,500 clients across 50 countries.

How to Buy BitGo Stock

BitGo is currently a private company, meaning it does not trade on public stock exchanges and lacks a stock symbol. However, accredited investors can purchase shares through Hiive, a platform for investing in private companies.

Accreditation Requirements

To qualify as an accredited investor, you must meet one of the following criteria:

  • An individual annual income of $200,000 or a joint income of $300,000.
  • A net worth exceeding $1,000,000, excluding the primary residence.
  • Status as a qualifying financial professional.

On Hiive, investors can browse listings of BitGo stock, negotiate prices, or accept asking prices set by sellers, who may be current or former employees, venture capitalists, or angel investors.

Can Retail Investors Buy BitGo Stock?

Retail investors cannot currently purchase BitGo stock while the company remains private. Although there has been speculation about a potential IPO, BitGo has not announced any plans to go public. Retail investors seeking indirect exposure might consider investing in companies like Goldman Sachs, which participated in BitGo’s Series B funding round, though this would offer only a diluted exposure to BitGo.

BitGo’s Growth and Market Position

BitGo has demonstrated significant growth, with a 60% increase in new clients and 20% growth in assets under custody in 2023. The company’s comprehensive suite of services includes trading, borrowing, lending, staking, and support for DeFi and NFT wallets. BitGo’s focus on security and regulatory compliance has established it as a trusted partner in the digital asset space.

Funding and Valuation

In August 2023, BitGo raised $100 million in a Series C funding round, achieving a valuation of $1.75 billion. The company’s strong market position and investor confidence underscore its potential for future growth in the digital asset economy.

Founders and Company Background

BitGo was founded by Mike Belshe and Ben Davenport. Mike Belshe, who serves as CEO, previously worked at companies like HP, Netscape, and Google, where he was an early hire on the Google Chrome team. Ben Davenport served as CTO before moving into an advisory role in 2018.

FAQs About Investing in BitGo

What is BitGo?
BitGo is a digital asset trust and security company offering regulated custody, financial services, and core infrastructure for institutional clients in the cryptocurrency space.

How can I invest in BitGo before it goes public?
Accredited investors can purchase shares through Hiive, a platform for private company investments.

When is BitGo expected to go public?
There is no confirmed timeline for a BitGo IPO, and the company has not announced any plans to go public.

What are the risks of investing in private companies like BitGo?
Investing in private companies involves risks such as limited liquidity, market volatility, and the uncertainty of an IPO timeline.

Who are the major investors in BitGo?
Major investors include Goldman Sachs and Galaxy Digital, among others.

Similar Posts