tags/bakkt

Qatar's Potential $500 Billion Investment in Bitcoin: A Market Catalyst?

Co-founder and CEO of Kenetic Capital, Jehan Chu expressed the opinion that the rate of the first cryptocurrency by the end of this year will exceed $ 30,000.

Chu made a statement in an interview with Bloomberg. According to the head of Kenetic Capital, one of the main factors for the growth of Bitcoin will be the launch of the Fidelity and Bakkt platforms, the emergence of Facebook's own cryptocurrency. In addition, the recent unsuccessful share offerings conducted by Uber and Lift may attract investors to "new technology companies."

The head of Bakkt, the platform for institutional clients, Kelly Loeffler: "race day" is nearing, the platform is waiting only for approval of an application from the Commodity Futures Trading Commission (CFTC).

Initially, it was expected that the Bakkt platform would be launched at the beginning of this year, but the start was postponed due to the lack of approval by the company from US regulators. However, the company's management still believes in the launch of the platform already this year.

Investors at approximately $ 740 million estimate the cryptocurrency platform Bakkt, created by the operator of the New York Stock Exchange.

During the first investment round of Series A, held in December last year, Bakkt collected $ 182.5 million to develop a platform that aims to attract institutional investors to cryptoassets. A probable valuation of $ 740 million suggests that Bakkt's owner, Intercontinental Exchange, has sold up to 25% of its shares to outside investors, including Galaxy, Pantera, Microsoft and Starbucks. Until now, the public catering giant has not made any investments in the site.