CCBeast Special

Great Investment in Crypto Platform by Goldman Sachs
Editorial Team

Reportedly, Goldman Sachs is investing millions in a venture designed to bring Wall Street investors into cryptocurrency market.

Goldman and crypto venture firm Galaxy Digital are investing a combined $15 million into BitGo, a fully regulated cryptocurrency custodian that securely purchases and stores digital assets on behalf of institutional investors.

“If you were investing in any other asset class, you’re probably not worried about the asset just disappearing — but this one, people still have that fear,” BitGo’s CEO Mike Belshe told Bloomberg. To push cryptocurrencies into the mainstream, “we’ve got to conquer that.”

The move follows Fidelity’s breakthrough entrance into crypto world with the launch of a crypto trading desk and custody platform.

However, there are few rumors that come to the contrary that Goldman Sachs has been working on a crypto trading desk.

BitGo offers custody for more than 75 coins and says it holds more than $2 billion in assets. The company has raised around $70 million in venture capital from two rounds of funding.