BitGo is the first and foremost company in the crypto world with a focus to provide regulated supervision to digital assets. The custody company BitGo is raising funds for reducing the institutional gap and further developments in crypto-sphere.
In this regard, Michael Novogratz and cryptocurrency bull Goldman Sachs have decided to invest in BitGo. On October 18, it was broadcasted that a funding totaling almost $15 million is vested in BitGo operations for following all the regulations imposed by regulatory bodies.
With the increase of fraudulent activities in the crypto world, users and investors require a place where they can invest their money without the fear of fraud and suspicious activities. The chief executive officer of BitGo commented that investors would not be willing to invest in digital currency unless they have a more regulated platform where they can invest in cryptocurrency without any fear of disappearance of the asset.
These huge investments from the giant bulls of cryptocurrency will act as the magnifier to the digital currencies like BTC and ETH. The CEO Mike Belshe stated that if investors are willing to invest in other assets, it means they do not have any fear about the vanishing of that particular asset. However, this is not the case with every investor.
On the other hand, Novogratz believed that the entry of Fidelity in the crypto industry would bring new expansions in the industry. He considers the speedy developments made by new companies as a growth of cryptocurrencies. He assumes that web 3.0 as a good and considers Bitcoin as a currency.