News Bitcoin jumps $300 on news of incoming Bakkt launch

Bitcoin jumps $300 on news of incoming Bakkt launch


- Advertisment -

The price of Bitcoin has jumped $300 on the news that Bakkt will launch its bitcoin futures exchange later this year.

Earlier today Decrypt reported that Bitcoin was struggling to maintain price around the $10,000 mark, rising up and dropping back down multiple times throughout today. But as soon as the Bakkt news broke, Bitcoin’s price soared from $10,100 to $10,400 in a matter of minutes.

Bakkt revealed that it has been cleared to launch on September 23 after regulators delayed the project multiple times earlier this year.

In a blog post, Bakkt CEO, Kelly Loefler, said, “Our contracts have already received the green light from the CFTC through the self-certification process and user acceptance testing has begun.”

The new platform is widely expected to be a major on-ramp for institutional money, making Bitcoin investments more accessible to hedge funds, banks and enterprise investors. Although Bakkt is still a month away from opening its doors for the first time, the news is widely considered to be bullish for Bitcoin—if it actually goes ahead this time.

The move has seen Bitcoin’s market dominance climb to 69 percent as more money continues to move from altcoins into Bitcoin. Other top-tier cryptocurrencies failed to spike on the move, suggesting that Bitcoin’s grip on the market is set to continue.



Please enter your comment!
Please enter your name here

Latest news

The First Cryptocurrency Bank License Is Now Granted

This is a historic development. A milestone in Bitcoin's path to broad acceptance and recognition. The State...

Yield Farming Program “Volcano” Kicks off Dutch Auction for Cryptokitties KittieFIGHT Game

In the fall of 2017, along with the rallying of Bitcoin and other digital assets, Cryptokitties dominated...

Ministry of Foreign Affairs of Denmark may use Blockchain to tackle corruption

We have already moved to the stage in our lives where technology plays an important role in...

What Lessons Can The World Learn From Venezuela’s Newfound Love For Crypto?

It is often the case that great changes are forced out of necessity, rather than a willingness...
- Advertisement -

How Bitcoin Capitalization Affected In 2020 on the Quarantine Background

Although the weeks of quarantining are gradually easing off, the impact of dealing with the deadly coronavirus...

Seamless Crypto Exchange HolyTransaction Allows Gridcoin Staking

In today’s world, the time value of money is very important and everyone likes to earn a...

Must read

- Advertisement -

Read Next
Recommended to you