The launch of the platform Bakkt futures on Bitcoin and their physical delivery already scheduled for tomorrow. However, some experts have begun to doubt the ability of this project to influence institutional adoption of cryptocurrency, as the launch was postponed several times for a considerable period of time. Last week the new York based firm Fundstrat Global Advisors, which has long been known in Cryptoprotected, participated in the summit Bakkt Institutional Digital Asset Summit. The event was held under the supervision of the stock exchange NYSE.
According to the analysis of the Sam Doctor of Fundstrat, institutionally — the so-called representatives of traditional financial markets and other actors are positive. And not only in relation to Bakkt, but in a broader sense: they are waiting for the development of Bitcoin and cryptocurrency.
If you do not quite understand what was going on, read a detailed guide about what futures for Bitcoin and how they work. Don’t forget to read it.
The institutions are betting on the Bitcoin futures Bakkt
Sam Doctor of Fundstrat posted on Twitter another study, which was attended by more than 150 investors and institutions.
We think #Bakkt could be a huge catalyst for institutional participation in the #crypto market. Here are our takeaways from the Bakkt institutional summit at the NYSE yesterday… #bitcoin #BTC #ETH @fundstrat @fundstrat_ken pic.twitter.com/lkRylD1P4C
— Doctor Sam (@fundstratQuant) July 19, 2019
The results showed that the “institutional demand” is still present, as futures on Bitcoin from Bakkt will be the first adjustable tool of this kind in the United States. Here most likely refers to the physical delivery of the payments in BTC.
As we have already mentioned, Bakkt eliminates many barriers to adoption for traditional investors. Many of them strive to expand their portfolio by cryptocurrency.
Further, according to him, there already exists a critical mass of institucionales ready to purchase on the first day of the launch of the platform Bakkt. At least now Fundstrat increases vzaimodeistvie on this issue with completely different actors of the market — from brokers to market makers.
The market maker maintains the liquidity of the markets, that is, stores a significant amount of cash, so the bidders can quickly and simply conduct transactions.
He is confident that if all this hype will indeed translate into real investment, the long-awaited product launch will open many agencies direct and fast access to bitcoin. Thus Bakkt can be a “huge” catalyst for the growth of the stock market.
And this news is preheated by the headers from the two main competitors Bakkt — ErisX and LedgerX. The company received all necessary licenses from the Commission on trade in commodity futures of the USA and now also will be able to launch futures on Bitcoin.
Should I wait for Bakkt Pay?
In addition, Bakkt hired former Google employee and expert in the field of payment systems, which will develop a portfolio of digital assets. Also on the careers page on the official website of the platform several times recruited mobile application developers. Probably it has something to do with long-term plans of the company. Yet on the application, not much information, but updated the company website, almost everything points to a new digital payment system.
The ability to make payments in digital currency between consumers and sellers or just to transfer money to each other has a great value. As these new international currency to evolve beyond the store of value or speculative instruments. And Bakkt has partnered with leading vendors who understand the potential of digital assets.
Previously received information that one of the first customers payment solutions Bakkt can become the operator of the world’s most popular coffee chain Starbucks.
What do you think, as of tomorrow the long-awaited launch of the platform Bakkt will affect the price of Bitcoin? Should we expect a significant growth? Share your opinion in our cryptodata of hontarov.
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