World famous USA-based online payment company PayPal Holdings Inc is now doing meetings in order to buy crypto companies like Bitgo inc. after announcing the Bitcoin payment support on their platform or wallets reported on 22 October 2020.
In 2018, BitGo raised $58.5 million by fundraising and now its valuation is $170 million approx as per the PitchBook.But it is still a mystery that how much Paypal would pay for the BitGo inc. as both representatives of Paypal and BitGo was declined to comment anything on it.
Mike Belshe started BitGo in 2013 where it was the first company that focuses on institutional investors. BitGo usually offers digital wallets secured with multiple signatures transactions, as well as offline vault system for storing Bitcoin and other currencies.
Goldman Sachs Group Inc., Galaxy Digital Ventures, Craft Ventures, Digital Currency Group, DRW, Redpoint Ventures, Valor Equity Partners and Founders Fund are the investors who invested in BitGo inc.
PayPal also commented that it would partner with Paxos Trust Company (BitGo competitor) which is a regulated provider of Bitcoin and other cryptocurrencies products and services.
Recently, Paypal announced that it’s customers can buy, sell and hold Bitcoin and other cryptocurrencies such as Ethereum, Litecoin, BitcoinCash as well as very soon everyone can also able to purchase services directly with Bitcoin.