This is pure speculation but it’s worth considering. $1 billion worth of Bitcoin was just moved to a single, unknown wallet. Was it Bakkt?
But first, what is Bakkt? Bakkt is a subsidiary of the Intercontinental Exchange, the same company that owns the New York Stock Exchange. Bakkt was set up to enable consumers and institutions to seamlessly buy, sell, store and spend digital assets. Its flagship offering is physically settled bitcoin futures. In fact, just last month they received regulatory approval and plans to launch it’s platform on September 23 of this year.
Again, this is pure speculation but seems interesting that just weeks before the launch, over 94,000 bitcoins was moved to a single wallet, which also has $36.7 million BCH and $16.3 million BSV.
I’m excited about Bakkt. I see this as a first step of bringing cryptocurrency mainstream. There are over 500 million stock buyers in the world who have never owned crypto. These people won’t come in without Wall Street holding their hand. And if Wall Street and other financial firms don’t get involved, crypto will never see mass adoption. This is clearly a win for those of us who got in early.
What do you think?