BitGo is betting on itself. The digital asset custody firm announced a $50 million share repurchase program on June 17, sending its battered stock higher in a market that has been decidedly unimpressed since the company went public.
Here’s the thing: BitGo priced its IPO at $18 per share back in January 2026, raising over $212 million in the process. Five months later, shares have been languishing in the $5.44 to $5.56 range. That’s a roughly 65-70% decline from the offering price.
The buyback math
The $50 million authorization covers the repurchase of up to approximately 8% of BitGo’s outstanding Class A common stock. There’s no fixed expiration date on the program, giving the company flexibility to buy shares opportunistically rather than on a rigid schedule.
At current prices, $50 million buys a lot of stock. With shares trading around $5.50, that war chest could theoretically absorb roughly 9 million shares, assuming the company deployed the full amount at today’s levels.
