VanEck Research Head: BitGo IPO May Hold Significant Growth Potential

Growth Prospects for BitGo

Matthew Sigel, Head of Digital Asset Research at VanEck, recently noted on social media that BitGo is one of the few firms poised to see revenue growth above 50% in the challenging 2025 crypto market.

While its growth trajectory may lag behind Coinbase’s, projections suggest BitGo’s revenue could grow 26% by 2028, surpassing $400 million and delivering EBITDA above $120 million.

Valuation and Investment Outlook

Sigel emphasized that based on current forecasts, BitGo’s fair market value stands at $2.4 billion—equivalent to $21 per share—with a 30% upside from the IPO price midpoint.

• In a bullish scenario, its valuation could exceed $3 billion.
• A 12-month price target of $26.50 per share implies a 65% upside from the IPO midpoint.

VanEck plans to participate in the IPO, citing strong long-term potential for BitGo.