BitGo, a blockchain security start-up has just acquired Kingdom Trust for 43 million USD pending last stages of approval. This move, BitGo attempts to help institutional and traditional investors get into cryptocurrencies with the right regulatory and compliance for ithose eyeing the crypto-market. With 100,000 clients and 12 billion in managed assets including individual retirement accounts on IRA, this will definitely give BitGo a lot to work with as they continue to expand their portfolio.
With news such as these are all great news for the crypto community since more money will be flooding into the market. Starting from dad, it will definitely give more exposure to those interested in the cryptocurrency space. However, don't get overly excited just yet since there are retirement accounts involved here you can most likely see a lot of this money flowing into the top coins instead of risky investments. Therefore if you are investing into new ICO's this may not change as much as the current top cryptocurrencies such as Bitcoin, Ethereum, and Litecoin.
As the crytocurrency market has been cooling off lately, besides jumping on to new ICO's it definitely seems like the top traded cryptocurrencies have also slowed down as well. I'm just not quite sure more news of more companies tossing money into the cryptocurrency space will help the market go on a bull run. Rather, It is the projects themselves showing forth the fruits of investor money on delivering real results.
No need to toss in money, my fellow traders. Wait for the time to come and then jump in, in this volatile market it is usually the people who rush into decisions that usually gets hurt the most at the end.
Your Fellow Crypto-Knight,
- mastaz -