August has been a rough month for cryptos.
Bitcoin, which was over $8,000 at the end of July, recently touched $6,000 again.
But we had some big news this month… news that seems to be forgotten already.
And that’s Bakkt (pronounced backed), a venture by the Intercontinental Exchange to create a global platform and ecosystem for digital assets.
Why is it big news? Because this is the type of project that bring cryptocurrencies into the main stream.
Intercontinental Exchange, aka ICE, is one of the biggest exchange operators in the world. It owns, for example, the New York Stock Exchange.
The company is led by Jeffrey Sprecher, who took the company from nothing to over $42 billion today.
Fortune calls him a major disruptor in the exchange industry. You can read about him here.
He was smart enough to take a stake in Coinbase in 2015. Now he has plans for his own exchange.
To create Bakkt, ICE partnered with major players like the Boston Consulting Group, Microsoft, and Starbucks.
Bakkt’s platform will use Microsoft’s cloud solutions.
The goal is to provide a regulated market and custody for institutions and major money managers.
And Sprecher is targeting consumers and merchants too. Starbucks will help with that.
Per Maria Smith, a Starbucks VP of Partnerships, “As the flagship retailer, Starbucks will play a pivotal role in developing practical, trusted, and regulated applications for consumers to convert their digital assets into U.S. dollars for use at Starbucks.”
Bakkt plans to initially launch in November with a bitcoin futures contract. And what’s cool is that it will be settled in actual bitcoin.
I’m betting the bitcoin price will be higher in November than it is today… what do you think?
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There's still time for August to turn things around. :)
Lol that's true!
Rightly said !! I also read somewhere that they are planning to launch one day physically delivered Bitcoin contract & physical warehouse in November 2018. I think the next big bitcoin price jump is round the corner... Maybe in November 2018 !!! I am also betting on it !!
Yep, their BTC futures contracts will have 'physical' delivery. That's big imo.
Hey g-dubs. Some more positive stuff happening. I am sure you will be right and Bitcoin will be worth more in November.
Betting the same you are betting!
Cheers!
regulation is the way forward
Needed for that institutional money.
exactly
I used Bitcoin buying hosting same
. thanks for sharing this post
I learned something new today. Can't wait for true adoption to show that crypto has real world value.
Nice!
Really it's a great news for us. Crypto is our dream. Thanks sir @g-dubs for providing the great news.
Thanks!
It is a good news for our.I love your post.Your post was very beautiful. I have read your entire post with my heart.
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This is a great news as i am in here for longterm looking for 2020.
Dear author, I really like your content! You’re writing in a very interesting manner!
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