Energizing Triumph: BitGo Raises $100 Million in Series C Funding, Propelling Valuation to $1.75 Billion!

By Medium August 27, 2023 In Uncategorized

Hold onto your hats because the cryptocurrency world is buzzing with exhilaration! BitGo, the trailblazing titan in Bitcoin and cryptocurrency custody, has set the stage ablaze by unveiling a spectacular achievement. Brace yourselves for this sensational news: BitGo has soared to celestial heights, raising a staggering $100 million in its Series C financing round. Yes, you heard it right! This exhilarating feat has propelled BitGo’s valuation to an awe-inspiring $1.75 billion!

Picture this: BitGo is not just a mere player in the industry; it’s a powerhouse that’s turning heads and shaking the very foundations of the crypto universe. And now, with this monumental injection of capital, BitGo is poised to embark on a trailblazing journey that will reshape the landscape of digital asset security and innovation.

Feel the excitement as we unveil BitGo’s grand vision — strategic acquisitions that will cement its position as the vanguard of trusted wallet and security infrastructure providers. BitGo is on the cusp of reshaping the future, fueled by this influx of funds that will catapult its secure and regulated custody solutions, wallets, and infrastructure onto a global canvas.

Hold tight as we dive into the visionary words of none other than BitGo’s Captain of the Ship, CEO Mike Belshe: “Our voyage is not just about catering to the burgeoning demand for regulated custody solutions in the US. No, we’re taking this exhilarating adventure to a global scale! We proudly unveil our $100 million Series C to cater to this burgeoning demand. We’re here to provide institutions, brands, coin foundations, and enthusiasts an unprecedented opportunity to seamlessly and securely dive into the digital asset ecosystem.”


But that’s not all — BitGo’s journey is as dynamic as the market itself. This year has been a rollercoaster of achievements, with astonishing milestones that leave us all in awe. Just imagine a 60% surge in new clients jumping aboard the BitGo ship, a remarkable 20% surge in Asset Under Custody (AUC), an astonishing 200% upswing in fiat custody, and a jaw-dropping 40-fold surge in staked assets. Yes, you read that right — 40-fold!

And let’s not forget the crowning glories that have become synonymous with BitGo’s name. Crowned as the entrusted custodian for the FTX creditors’ funds, led by the illustrious John Ray III, BitGo is more than a custodian; it’s a guardian of trust and growth. Cast your gaze further, and you’ll spot BitGo as the chosen distributor for the venerable Mt. Gox creditors. This is not just a journey; it’s a legacy in the making.

Buckle up, because this momentum isn’t stopping. Behold the Go Network — BitGo’s magnificent creation that empowers institutions to navigate the digital asset sea, trading and settling both digital treasures and fiat currencies, all from the sanctuary of secure custody. Spanning over 50 countries, BitGo is the gold standard in regulated custodianship. As if that wasn’t impressive enough, BitGo orchestrates a colossal 20% of all on-chain Bitcoin transactions by value. Yes, you read that right — a colossal 20%!

Before you catch your breath, prepare to be awestruck by the coterie of eminent clients who have chosen BitGo’s sanctuary of security. The giants, the trendsetters, the iconic — including the likes of Nike — have found their haven in BitGo’s secure and infinitely scalable wallet-as-a-service solution. When navigating the labyrinthine regulatory landscape, BitGo is the guiding light.

So, my friends, let the echoes of triumph resound across the digital expanse! BitGo’s $100 million Series C funding has unleashed an era of unparalleled growth, innovation, and transformation. With an unmatched passion for security and an unyielding commitment to progress, BitGo is a cosmic force that’s here to redefine the future. Get ready to ride the exhilarating waves of this groundbreaking journey!

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