we will talk to the ceo of bitgo next.s is bloomberg. ♪ emily: goldman sachs is getting deeper into bitcoin. goldman and a venture by one of their millionaires are investing in cryptocurrency custodian bitgo. they put in about $15 million in the latest round of fundraising. bitgo guards digital currencies for institutional investors. for more, let's bring in their ceo. mike, what you get out of this investment from goldman and galaxy, aside from money? mike: it was not about the money. it is much more about the strategic nature of this. institutional custody is something we have been talking about, it is a big missing piece. some people are holding their assets on exchanges. that is not a model use in any other asset class, but we use it h -- we use it here. bitgo is working on changing the infrastructure for some time. goldman and galaxy are looking for that as well. they found us. happy to work with them. emily: can you defined by institutional custody clients? mike: when you think about custody for your own assets, that

goldman and one of their ventures are investing in cryptocurrency custodian bitgo.y put in the $15 million of fundraising. guards digital currencies for institutional investors. for more, let's bring in their ceo. what you get out of this investment from goldman and galaxy aside from money? >> it was not about the money. it is much more about the strategic nature of this. institutional custody is something is a big missing piece . is working on changing the infrastructure for some time. goldman and galaxy are looking for that as well. they found us. happy to work with them. can you defined by institutional custody clients? mike: when you think about custody for your own assets, that is your choice with what you do for your own money. mattress,t it in your your bank, it is up to you. when it comes to institutions, they are holding other people's money. we have hold a much higher bar for what those custodians are doing. are notto know you lying, your audited, have the assets. custodians help. emily: how many clients do you have? mike: over 300. we are a global firm. u

and so we made an investment in a company called bitgo with goldman so all the pillars you need for institutionsme in are being put in place. liz: he's saying he means fidelity and vanguards of the world, he needs them to get in first. do you agree? >> i agree we have proper custody solutions out there, we have proper pricing, futures contracts are trading, institutions like vanak who built the first gold fund in the united states, first international stock mutual fund in the world are in this game and trying to bring something to market. we have the right institutions and we have the right market structure. it's time to give america what it wants, a bitcoin etf. liz: when you have jamie, i don't know if we can show that video again, we were talking at an axios conference, and that's where he was asked about bitcoin and said i don't give an "s" about it. he really has called it a fraud in the past and said he regretted that. warren buffett and warren buffett's vice chair have said on our show here that bitcoin is rat poison. to that you say on bitcoin's tenth birthday of it being put out there a