@FireOnNoiseApp 6 March 2021 more from that month

Crypto asset infrastructure company BitGo keeps US $ 250 million worth of Bitcoin on its balance sheet. This was revealed by CEO Mike Belshe in an interview with CoinDesk. This disclosure follows various crypto companies announcing their Bitcoin deposits. It's not uncommon for crypto businesses to hold assets that are sold to customers, but traditional investment institutions are also starting to disclose their own crypto deposits. BitGo has had Bitcoin on its balance sheet since 2014, said Belshe. One of the products that BitGo developed this year is a multi-signature wallet designed for financial management. Although including Bitcoin on the balance sheet is a trend in 2020 driven by MicroStrategy, Square, MassMutual, Tesla and others, Bitcoin is an asset diversification strategy that has been practiced by BitGo customers for a long time. "It took longer than we thought for the industry to evolve," said Belshe. When BitGo added Bitcoin to its balance sheet, Belshe argued that the company should have the same exposure to crypto as its customers. Venture-backed companies holding assets other than US dollars for investment are controversial. If a founder comes to an investor and says he wants to put his investment money into gold, the answer is no, adds Belshe. At that time, BitGo developed a liquidity policy that prepares for the value of digital assets on the balance sheet to zero. BitGo has 24 to 36 months of cash just in case other than the asset deposit. He refers to insurance and pension funds that allocate 3 to 5 percent of cash reserves to Bitcoin as a foothold for other companies looking to add Bitcoin to the income balance. When interest rates remain low, Belshe predicts investors will buy up high-yielding assets, such as Bitcoin. “What people are predicting is that the bond market has been sluggish for a long time. Another option is the stock market, but if the bonds go up, the stock market will take a hit. I think people will seek protection against both markets, "concluded Belshe. #CryptoTrading