- Bakkt’s launch is three days away
- A Bitcoin (BTC) Boom Is Underway
- Bakkt Has the Ability to Improve Trust with Institutions to Crypto – Tom Lee
Bitcoin News Today – A major event would be unfolding in the digital currency space in the next three days. Bakkt would be launching its physically deliverable Bitcoin futures contracts. This is a highly anticipated launch that has faced a long development process and many regulatory setbacks. This is a piece of bullish news that could have a huge impact on the price of Bitcoin (BTC).
A Bitcoin (BTC) Boom Is Underway
Bitcoin News Today – For about a year now, digital asset investors and traders all over the world have been waiting in anticipation for the trading platform. The launch of the platform was announced late last year. The International exchange-backed Bitcoin (BTC) platform was sponsored by optimists as a catalyst that would push the price of Bitcoin (BTC) to a new all-time high.
However, Bakkt has faced a lot of setbacks and challenges, which resulted in the delay of the platform. But the waiting period is over. On the 23rd of this month, the real floodgates would be open. According to many analysts, the launch of Bakkt would have decisively positive effects on the price of Bitcoin (BTC).
Bakkt Has the Ability to Improve Trust with Institutions to Crypto – Tom Lee
Via a tweet, Tom Lee – co-founder of Fundstrat Global Advisors – gave his opinion regarding Bakkt. He said that he is positive on Bakkt and the ability of the exchange to improve trust with institutions to crypto. With the support of one of the most important and prominent legendary corporations and financial institutions such as Starbucks and Microsoft, Bakkt is likely to attract companies previously hesitant and skeptical about the crypto industry.
— Thomas Lee (@fundstrat) September 20, 2019
Via a research note released on Twitter, Sam Doctor – Fundstrat’ own analyst – said that based on his firsthand experience of a Bakkt event, which more than 150 institutions and investors attend, there is “institutional anticipation” for the Bitcoin futures of Bakkt. Doctor said:
“As we have written before, Bakkt tackles many of the barriers to adoption for traditional investors seeking to expand their mandate to include crypto.”
He also said that there seems to be a critical mass of adopters that are ready to come on board on the launch day. He added that the sales team of Bakkt is beginning to increase discussions with everyone from market makers and brokers. He said that if the hype translates into real investment, the launch of Bakkt could be a significant catalyst for Bitcoin (BTC) and the entire crypto market.