Bakkt Launch Next Month May Not End Bear Market
Intercontinental Exchange’s “regulated ecosystem” for Bakkt should launch December 12, but “lingering concerns” remain, industry figures warn this week. ‘Lingering Concerns’ Over Long-Term Plans
In a series of tweets, securities lawyer and regular social media commentator Jake Chervinsky summarized the gaps in public knowledge about Bakkt, which is still awaiting regulatory permission to begin operations. “In the minds of many, Bakkt’s launch has become a full-fledged narrative for when & how the bear market will end,” he wrote. “[…] Hype aside, some people have lingering concerns about Bakkt.” Jake Chervinsky@jcher
plans to launch next month on December 12, and some people are hoping it kicks off another crypto bull run. Now seems like a good time for a quick discussion on: - what Bakkt is
- why it might be exciting
- when it will get regulatory approval
1,343 people are talking about this
If all goes to plan, December 12th will see the company launch one-day physical Bitcoin futures.
As Bitcoinist has previously reported, this will allow institutional investors to take physical ownership of cryptocurrency, setting the offering aside from many current futures available on the market, including pioneers CME Group and Cboe.
While Bakkt executives have used that narrative to quash fears about the platform having a detrimental effect on Bitcoin long term, critics maintain they have not been thorough enough in their explanation.
#bakkt #bitcoinprice #bearish #hodl #cryptocurrency #buzzword