BitGo protected bitcoin with a simple trick: three keys, any two of which could move the money. That 2-of-3 multi-signature design, introduced in 2013, became a standard way to secure crypto. BitGo grew into a custodian for exchanges, funds, and even the governments of El Salvador and Bhutan. By September 2025 it held about $104 billion in assets on its platform. It went public in January 2026, after a planned sale to Galaxy fell apart.

Securing Bitcoin First

Mike Belshe co-founded BitGo in 2013 with the idea that digital assets needed secure storage. A single lost or stolen key could wipe out a fortune. Multi-signature wallets spread that risk across several keys held in different places. By 2014 BitGo had built wallet systems for institutions. It later added a trust company, trading, settlement, and tools for launching stablecoins. BitGo served clients in more than 100 countries and supported over 1,550 digital assets.

Galaxy Walks, BitGo Lists

Galaxy Digital agreed to buy BitGo for $1.2 billion, then terminated the deal in 2022. BitGo sued, saying Galaxy wrongfully walked away. Instead of a sale, BitGo chose the public markets. It priced its IPO at $18 a share in January 2026 and listed on the New York Stock Exchange as BTGO. Belshe, its CEO, held Class B shares that gave him about 55 percent of the votes. BitGo still trades on the NYSE.

Cover: Designs for Locksmiths, Jean Bérain, I. Art Institute of Chicago, public domain. Chosen for ornate keys and locks (custody).