Rumors are swirling that cryptocurrency custody firm BitGo is planning to hold an initial public offering (IPO) this year.
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BitGo hasn’t made any announcement. But speculation is rife that the crypto firm plans to go public in coming months as sentiment towards cryptocurrencies such as Bitcoin (BTC) remains strong. Early financial backers of BitGo include U.S. investment bank Goldman Sachs (GS), as well as venture capital firms DRW Holdings, Redpoint Ventures, and Valor Equity Partners.
During its most recent funding round back in 2023, BitGo was valued at $1.75 billion. BitGo is the latest crypto firm that Wall Street thinks will announce plans to hold an IPO in 2025 as prices for digital assets remain elevated.
Crowded Field
Other crypto companies believed to be planning to go public include crypto exchanges Gemini, Kraken and Bullish, as well as stablecoin issuer Circle. The slew of crypto IPOs come as Bitcoin trades near $100,000 and the administration of U.S. President Donald Trump ushers in a friendlier regulatory environment.
Bitcoin, the largest cryptocurrency by market capitalization, is currently trading at $96,300, having gained 93% over the last 12 months. However, the price of BTC reached a record high above $109,000 earlier this year on the eve of Trump’s presidential inauguration.
Is BTC a Buy?
Most Wall Street firms don’t offer ratings or price targets on Bitcoin, so we’ll look at the cryptocurrency’s three-month performance instead. As one can see in the chart below, the price of BTC has risen 5.71% in the last 12 weeks.
