BitGo announced today that co-founder Mike Belshe will replace Will O'Brien as acting CEO of the bitcoin security provider.

Calling the move "the best path forward", Belshe suggested that the transition was put in place by the BitGo's remaining founders, including both himself and Ben Davenport, and that O'Brien will continue working with the company as a strategic advisor.

In an interview, Belshe framed the appointment as one that would allow him to take BitGo into its "next phase" of development, while continuing his efforts to align the company toward a common vision.

Belshe told CoinDesk:

Belshe indicated that O'Brien will remain a shareholder of the company, and that his role as a strategic advisor will include acting as a "public face" for the company at future events.

O'Brien is one of the latest bitcoin executives to be replaced as CEO, following Blockchain's Nic Cary and BitPay's Tony Gallippi, who now act as co-founder and chairman at their respective companies.

Throughout the talk, Belshe framed BitGo as a personal project, one that required the expertise of an individual with business acumen like O'Brien who could help the company grow while he helped focus the company on its foundational technology.

"I started BitGo before I even really knew it was going to go toward the company it is today. It started out of securing bitcoins for friends," Belshe recalled.

O'Brien joined the company in December 2013, after working informally with Belshe for a few months prior to this time. "He brought a lot of business side skills. I was looking for someone to take that side of the company," he continued.

Still, Belshe framed the move as one that would find him extending his interior leadership of the company out to the general community, concluding:

CEO visualization via Shutterstock