$ 1.2 billion giant purchase in Galaxy Digital!

Mike Novogratz’s crypto bank Galaxy Digital makes a $1.2 billion acquisition. It looks like the crypto bank is acquiring another crypto services provider.

Galaxy Digital is acquiring crypto custody company

Cryptocurrency press is breaking news about Galaxy Digital. announced. According to the news in CoinDesk, Galaxy Digital, the crypto investment bank founded and managed by Mike Novogratz, is acquiring BitGo, which provides crypto custody service for a giant price of $ 1.2 billion.

BitGo shareholders, approximately 265 million dollars in cash and 33.8 million recently issued shares of the company. However, the total cost of this sale is calculated around 1.2 billion dollars.. Galaxy Digital, which is publicly traded in Canada, is starting to realize its plan to go public in the USA with this step.

Mike Novogratz is the biggest supporter of the crypto industry and one of the early Bitcoin and Ethereum investors.. Novogratz is also the first person to receive ETH from Wall Street in 2015.. At that time, when he bought 500,000 ETH, the Ethereum price was also around $0.99.

Related – interesting Bitcoin detail on the wall of the Bank of England!

What is BitGo?

BitGo is one of the leading companies in digital currency custody, security, trade and finance for corporate companies.. The company is headquartered in California. BitGo was founded in 2013 by Mike Belshe and Ben Davenport. The company offers a multi-signature Bitcoin wallet service where keys are shared among several owners to manage risk.

What does Galaxy Digital do?

Galaxy Digital is a cryptocurrency and digital asset trading bank founded in 2018 by former hedge fund manager Michael Novogratz.. The firm offers many services, including asset management, advisory services for businesses, trading and core investment to companies from start-ups to full-blown businesses.

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