The digital asset infrastructure provider Galaxy Digital has announced that it is going to purchase Bit Go. The total value was $1.2 billion, including Galaxy Digital’s latest common stock shares of $33.8 million, and cash of $265 million.
Galaxy Digital, a fully-fledged financial service company headquartered in New York, was established in 2018, in the digital asset, encryption, and blockchain sectors. From now on he was the CEO of Galaxy Digital, Michael Novogratz. David J. Namdar and Mike Novogratz are co-founders.
Founded in 2013, BitGo digital asset financial and infrastructure services service provider headquartered in San Francisco focused on safety solutions, custody and liquidity. BitGo to date To date, BitGo has raised $69.5 Million in six funding rounds, according to CrunchBase. The BitGo co-founders include Ben Davenport, Mike Belshe, and Will O’Brien.
“The acquisition of BitGo sets up Galaxy Digital as a single stop for organizations to accelerate significantly our effort to institutionalize digital asset ecosystems and the blockchain technology, says Executive Opinion CEO and founder of Galaxy Digital, Mike Novogratz. As a result of this acquisition, our power of technology, solutions and people will generate unique value for our customers and fuel growth in our combined company on a long-term basis. We look forward to welcoming Mike Belshe to Galaxy Digital, and the talented BitGo team.”
“Joining Galaxy Digital is a new and exciting chapter for our business, like our present customers,” said BitGo CEO and founder Mike Belshe.
“The integration of Galaxy Digital is an exciting new chapter for our company because our existing customers have access to a broad spectrum of financial solutions,” says BitGo CEO and Founder, Mike Belshe. “We are now able to deliver the most excellent digital asset infrastructure for many more corporate, institutional and net worth investor clients.”
BitGo acquisition of Galaxy Digital
As early as 2018, BitGo, through its BitGo Trust company, has become an independently controlled custodian for digital assets. In the press release, as a digital custodian, BitGo has more than $40 billion in custodial properties, representing more than 150 trade units and more than 400 institutionals.
