Week #21

USD/BTC = $92,752
Block 933,796

Here are the stocks I plan on buying this week:Here are the stocks I plan on buying this week:

🐂 = Bull Case
🐻 = Bear Case

Latest Updates:Latest Updates:

No Updates

Commentary: 🚨new stock alert 🚨BitGOCommentary: 🚨new stock alert 🚨BitGO

Adding a new stock! BitGO IPO’ed last week and I picked up some shares. Bull and Bear Case is below.

🐂 =I am not a fan of the supporting of shitcoins and KYC they do offer custody services for many bitcoin businesses in the space. Plus they have 2,369 BTC treasury! They got a federal bank charter as well. That is how fold was able to offer it services in NYS because they use bitgo as a custody provider. Over the next few years this will be a huge deal as digital assets become integrated into the American financial system.

Text from the prospectus:

Bitcoin Treasury Strategy and Market Resilience
We have maintained a significant Bitcoin treasury reserve, a practice initiated in 2014. Our Bitcoin treasury held 2,369 BTC with a fair value of $270.2 million based on observable market prices, representing approximately 60.7% of total digital intangible asset value and approximately 6.5% of our total assets on our consolidated balance sheets, as of September 30, 2025. Our Bitcoin treasury strategy involves the custody of Bitcoin that we receive as payment for our services (rather than converting such client payments to fiat), acquiring Bitcoin with cash on our balance sheets and selectively retaining Bitcoin that we receive as payment for our services (rather than converting such payments to fiat). We believe that this deliberate strategy and consistent custody of Bitcoin has positioned us as a leader among digital asset infrastructure providers, enabling us to navigate the volatility of crypto markets, including multiple crypto winters, with what we view as greater stability and financial independence than our competitors. We believe that holding Bitcoin as a core treasury asset has contributed to our ability to minimize reliance on external capital raises, strengthen our balance sheet, and leverage our operational expertise in secure Bitcoin custody to drive long-term value creation. For example, we believe that our Bitcoin treasury strategy strengthens us as a prime broker and that our significant Bitcoin holdings may contribute to our proof of creditworthiness as Bitcoin becomes a universally recognized asset. In addition, we use our Bitcoin as reserve capital with some regulators, which allows for an efficient use of our Bitcoin and creates a corresponding increase in our reserve requirements as the price of Bitcoin rises.
Our Bitcoin treasury has been a cornerstone of our financial resilience. Unlike many competitors in the digital asset space, who have raised significant amounts of capital to fuel growth, we have achieved comparable or superior growth with relatively modest fundraising of less than $200 million over 12 years. For example, our AoP grew from $17.0 billion for the quarter ended December 31, 2022 to $90.0 billion for the quarter ended December 31, 2024, a CAGR of 130%, primarily driven by the organic growth of our custody, trading solutions, and staking platform, while also maintaining leaner equity dilution due to the relatively modest external fundraising efforts. The appreciation of Bitcoin during market upcycles, such as the 2020-2021 bull run, bolstered our liquidity, enabling strategic investments in technology (e.g., BitGo Prime, launched in 2020) and global expansion (e.g., offices in Singapore and Dubai, each opened in 2024). During crypto winters, such as the 2022-2023 bear market when Bitcoin’s price fell from $69,000 to $16,000, our Bitcoin treasury reserves, combined with our diversified revenue streams (e.g., $793.3 million in digital asset sales revenue, $79.0 million in staking revenue and $52.7 million in subscriptions and services revenue for the year ended December 31, 2023), provided a buffer against reduced transaction volumes, allowing us to avoid significant layoffs or restructuring that impacted companies in the digital assets industry.

They have a really strong team and seems to be set up to generate revenue from the stablecoins that are coming soon. If they execute over the next 10 to 20 years they could be the next major bank like company. Offering customers all sorts of services and sweeping their profits in to bitcoin.

Corporate Information

BitGo, Inc. was incorporated in Delaware in 2011 under the name “Whensoon, Inc.”, which was amended to “Twist and Shout, Inc.” later in 2011 and then to “BitGo, Inc.” in 2014. BitGo Holdings, Inc. was incorporated in Delaware in 2017. As part of a series of transactions between BitGo Holdings, Inc.(a newly formed entity at such time) and BitGo, Inc. in 2018, BitGo, Inc. became a wholly-owned subsidiary of BitGo Holdings, Inc., and the stockholders of BitGo, Inc. became stockholders of BitGo Holdings, Inc. Our principal executive offices are located at 101 S. Reid Street, Suite 307, PMB# 9793, Sioux Falls, SD 57103. Our telephone number is (650) 847-0009. Our website address is www.bitgo.com. The information contained on, or that can be accessed through, our website is not a part of this prospectus. Investors should not rely on any such information in deciding whether to purchase shares of our Class A common stock.

🐻 = Shitcoins, KYC, and other risks bring the company down. I couldn’t find the balance sheet so I am unsure of the debt load they are carrying. A major hack can also crush this business. Once this compay dumps or pivots from bitcoin I will be dumping this stock as well.