Topic: The Sign of an upcoming bull market? Bakkt completes $182.5m for funding round (Read 165 times)

I don't think this is the beginning of a bull market. The bull market may have to wait for many years. This is just the beginning of an exchange. But this only means that the cryptocurrency will not die. There are still capitalists ready to invest in cryptocurrency.

BAKKT story I can't really tell, because they seems to be playing the waiting game, with the level of influence they team exact in the space, they should have no issue getting the approval, the current funding raised look small IMO, if ICOs in the space like Tezo, EOS, DAO etc could raise over $100 million this is just a drop in the ocean for me, but the good thing is that team like BAKKT helps to legitimize the space and pull more investors into the space

ETF will get unlimited delay to consider about the fact based on the what's the reason that has announced by SEC if there was a lot of exchange sites that are being manipulated by parties prevent ETF to be accepted by SEC. I bet on unlimited delay for ETF and forget it.

ETF is still a tool for the whales to manipulate the market so don't care much about the approval or not because it is not for the crypto users and investors only the big institutional investors are going to get benefited.

Bakkt is going to be very good for prices since it will trade real bitcoins. ETF approvals have a SEC deadline in late Feb, 2019 so will be great once approved.

Bakkt is just the beginning ,I'm sure 2019 will be so different and when ETF got approval then cryptocurrency will be a huge success after all ,huge investors will have no choice but to come in  ,so are bigger whales too

Bakkt will be a huge entry in crypto and no doubt it will take the market to new trading record. Bakkt postponed the previous announced date(January 2019) of launch and hope soon they will announce the next date, Every one is waiting for Bakkt warm entry in crypto market.

The Massive Investment

On the New Year’s Eve of 2019, US-based Cryptocurrency exchange Bakkt announced the completion of raising $182.5 million from a group of high profile investors and venture capital firms.

The firms and investors include Boston Consulting Group, CMT Digital, Eagle Seven, Galaxy Digital, Goldfinch Partners, Alan Howard, Horizons Ventures, Intercontinental Exchange, Microsoft’s venture capital arm, M12, Pantera Capital, PayU, the Fintech arm of Naspers, and Protocol Ventures. They invested in the company and sharing the same vision of Bakkt’s by driving institutional access for digital assets and providing support for merchants and consumer uses.


What is Bakkt

In August 2018, Bakkt’s parent company Intercontinental Exchange released a statement announcing its intention to use Microsoft’s cloud service Azure to “create an open and regulated, global ecosystem for digital assets.”  According to Blockonomi, this new company, dubbed Bakkt, would start right off the bat with the inclusion of federally regulated markets and auxiliary services, like warehousing. It would even feature Bitcoin to fiat conversions, a feature that is rare on cryptocurrency exchanges and one of the major differentiator between market-movers and also-rans. In total, Bakkt expects to serve a digital marketplace that moves $270 billion per year.

Why invest in Bakkt?

First, Bakkt is a crypto platform operated by Intercontinental Exchange (ICE) It is a product of the same company that spawned the vaunted New York Stock Exchange,

Second, Bakkt will leverage Microsoft's cloud solutions to enable speculators to buy, sell, store, and spend cryptocurrencies on a global network.

Third, Bakkt plans to push its physical bitcoin futures contracts. It would launch physical one-day Bitcoin futures contracts. When the contracts expire, users will receive Bitcoins. This is different to the futures offered by CME Group and CBOE, which are both settled in US dollars.

Kelly Loffler, CEO of Bakkt, emphasized that 2018 was the most active year for crypto in its brief ten-year history. This was evidenced by rising investment in distributed ledger technology and digital assets, as well as by blockchain network metrics such as daily bitcoin transaction value and active addresses. Yet, these milestones tend to be overshadowed by the more narrow focus on bitcoin’s price, which has been seen by some, as a proxy for the potential of the technology.



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