Investors put back on Bakkt, after the company had announced that it was ready, a Bitcoin storage solution.
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Bakkt: Bitcoin Storage starts next week
Bakkt, the crypto-platform for institutional investors, is currently testing the first product, the physical Bitcoin Futures. The official Launch begins next month. From the 6. In September, the company confirmed this week via Social Media, customers will be able to use your Coins to Deposit.
On 6. September will begin our Storage, safe storage of customers ‘ Bitcoin to the introduction of Bakkt Bitcoin Daily & Monthly Futures prepare, as soon as November 23. September start.
On Sept 6, our Warehouse will begin offering secure storage of customer bitcoin to prepare for the launch of Bakkt Bitcoin Daily & Monthly Futures when they launch on Sept 23
These contracts will enable physical delivery of bitcoin, with end-to-end regulated markets and custody
— Bakkt (@Bakkt) 28. August 2019
These contracts will enable the physical delivery of Bitcoin in regulated markets, as well as the safekeeping (Custody). In Bakkt there were several delays due to regulatory hurdles. This month, the company announced, to have these difficulties solved, and thus freely continue with their plans.
Bakkt will offer physical Futures contracts, which means that the platform will pay out the returns in Bitcoin, not in Fiat currencies like the US Dollar.
This property made the offer for BTC investors, who argue that a mass-like institutional commitment would be to increase the demand and thus the price.
Others, however, dread of Bakkt back and argument, that the Hype was overdone.
Traders cheer on institutional miracle plant
Rhythm, a well-known Social Media personality, argued in turn that the enthusiasm to Bakkt was justified.
Think about it, the Hype is full of substance. Unlike other futures exchanges, this is to be settled in Bitcoin. Actual Bitcoin will be paid, not only Fiat that corresponds to the price of Bitcoin.
The result is a better price discovery and liquidity for Bitcoin and all the others in the room.
Bakkt will compete with various competitors in the physical futures market, including with Binance and the derivative platform LedgerX.
We are eager to see how the introduction of Bakkt will have an impact on the Bitcoin price. However, it must not be forgotten that the regulated Bitcoin purchase will now be for the first time, for institutional investors, for sure.
Text evidence: bitcoinis, ANJA VAN OOSTERHOUT