There Is “Unprecedented” Demand For Bitcoin
Bitcoin, with the record prices it sees in 2020, is also beginning to see demand from institutional investors. During the year, the price of BTC, which received investment from many giant companies such as Microstrategy, Grayscale, Square, Rose similarly with demand. Mike Belshe, chief executive of BitGo, which has $ 16 billion worth of digital assets, said there was unprecedented demand for Bitcoin.
Bitcoin, which began to receive demand from institutional investors this year, has become an asset that many corporate companies rely on. Even Microstrategy CEO Michael Saylor explained in an interview why Bitcoin is an ideal treasure reserve asset. Some corporate firms that followed MicroStrategy also got caught up in this flow and began to buy a large amount of BTC. As for the demand for bitcoin, there was a comment recently from the CEO of BitGo. CEO Mike Belshe said of the issue:
“There is” unprecedented ” demand for Bitcoin, which has risen as a result of the economic problems created by the pandemic.”
BitGo has digital assets worth $ 16 billion, according to decrypt. After BitGo’s announcement, the company also announced how much digital assets it has. Grayscale also announced that it has $ 16 billion worth of digital assets in parallel with BitGo.
What is BitGo?
BitGo, a cryptocurrency storage and storage service, was founded in 2013 by Mike Belshe and Ben Davenport. Headquartered in California, USA, the company serves corporate clients. BitGo has received investments from major companies such as Goldman Sachs, Galaxy Digital, and Redpoint.
In October, there were some reports that PayPal wanted to buy BitGo, but recently there were statements that the two companies could not reach an agreement.