Capitalization Of Bakkt Crypto Company Is $740 Million – Media
With the receipt of investments at the end of 2018, the capitalization of the bitcoin futures platform Bakkt amounted to about $740 million, The Block reports, referring to information from the project representatives.
The Bakkt crypto platform continues to prepare for launch. During the last stage of funding in December, it managed to attract more than $180 million. It is assumed that thanks to Bakkt, institutional investors will soon have the first regulated exchange that will provide services of crypto supply and storage.
The amount of capitalization of the crypto platform means that the Intercontinental Exchange corporation, which owns Bakkt, managed to sell about a quarter of all its securities. Institutional investors included Galaxy Digital, Pantera Capital, Microsoft, and Starbucks.
Having invested such funds, the companies hope for their return and profit. However, the launch of the platform is constantly delayed due to uncertainty associated with regulatory organizations.
Experts note that the next stage of financing may increase the company's capitalization up to $1 billion, but investors need to know where they are investing their funds. Bakkt will have to try hard to ensure sufficient cash flow and justify the investment, otherwise companies may withdraw from the deal.
As previously reported, the Starbucks chain of coffee shops will allow customers to pay for goods in bitcoins, by converting crypto payments into fiat money through Bakkt.