Bitcoin Magazine Podcast

How the Company Securing $100B in Bitcoin Protects It | Bitcoin for Corporations Ep. 12

21 snips
Aug 18, 2025
Guest
Mike Belshe
Mike Belshe, CEO of BitGo, shares his journey from tech giant roles at Netscape and Google to revolutionizing Bitcoin custody solutions. He dives into the evolution of multi-sig technology and its significance in safeguarding billions in Bitcoin. The conversation highlights the crucial role of proof of reserves and the complexities of key management for institutions. Belshe also discusses regulatory challenges and the importance of transparency in custody frameworks, making this a fascinating exploration of Bitcoin security for serious investors.
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ANECDOTE

From Netscape To Bitcoin Discovery

  • Mike Belshe discovered Bitcoin around 2012, tried to break it, and concluded it was real and powerful.
  • He used primitive air-gapped single-sig wallets for friends before building multisig solutions at BitGo.
ANECDOTE

Building BitGo From A Personal Need

  • BitGo pioneered two-of-three multisig and launched in August 2013 after Mike built the first version alone.
  • Early institutional interest (like CME) pushed BitGo from self-custody tooling to building a regulated custodian.
INSIGHT

Two-Of-Three Is The Practical Gold Standard

  • Two-of-three key protection defends against both theft and loss by providing an accessible backup key.
  • BitGo preserves self-custody options alongside custodial services to keep decentralization intact.
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