Bakkt Will Influence Institutional Investors In One Way Or Another: The Good, Bad And Moonshot
Is Bakkt Really All That Its Hyped Out To Be? Let’s Take A Closer Look…
Many experts are of the opinion that as and when the US Commodity Futures Trading Commission (CFTC) gives its nod of approval to Bakkt, the crypto-futures trading system will most likely help in the financial resurgence of the world’s premier alt-currency ‘Bitcoin’.
More On The Matter
As many of our readers are probably well aware of, Bakkt’s founding body, the Intercontinental Exchange (ICE) is arguably the world’s most successful operator of financial exchanges. The economic entity is headed by Jeffrey Sprecher and is currently in charge of administering the day-to-day activities of the New York Stock Exchange as well as some other leading futures exchanges.
The fact that Bakkt will help draw in investments through government-regulated channels, means that many institutions that have been sitting on the sidelines over the past few years will finally be able to enter this burgeoning domain.
“The proposed system …is the only name we are considering in terms of client funds finding their way into crypto.”
Bakkt Will Help Strengthen The Fundamentals Of Bitcoin
When looked at more closely, we can see that Bakkt is designed not only to facilitate trading but also cement the fundamentals of Bitcoin in an air-tight manner. For example, a spokesperson for Bakkt recently announced that large multinational corporations including Microsoft and Starbucks have already bought into the firm’s vision and will help in the creation of novel applications that will allow for the widespread adoption of crypto coins across the globe.
Other Key Takeaways
Over the past few months, issues such as the recent US government shutdown, as well as the CFTC’s reluctance to provide Bakkt with regulatory approval have continued to postpone the launch of the new financial entity. However, according to an all-new statement released by Sprecher a fortnight ago, Bakkt will go live by the end of this year for sure.
In closing out this piece, it should be mentioned that a spokesperson for Bakkt recently stated in an interview that due to the various aforementioned delays, the financial body has been able to “build a formidable base of institutions interested in its services”. If that wasn’t enough, the venture has also been able to raise a total of USD $182 million for its various envisioned projects.