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Tonight’s Reddit Recap covers a range of topics, most of which has to do with the biggest news of the day in Goldman Sachs announcing that they are considering a Custody Service, along with news that Upbit is solvent, and Thailand now allows cryptocurrency. While Bitcoin (BTC) took a big hit this weekend.
Today google trends show an increased in bitcoin interest as the news of NASDAQ offering a new product in conjunction with Microsoft and Starbucks. The product is called Bakked. Anyways tonight’s short video is a coincidence of CNBC publishing a video just days ago saying Starbucks failed in Austrailia. It’s mere coincidence, but I thought I would share my *satirical* clickbait story for you before bed! Night!
Kelly Loeffler, CEO of Bakkt had this to say: “Bakkt is designed to serve as a scalable on-ramp for institutional, merchant and consumer participation in digital assets by promoting greater efficiency, security and utility. We are collaborating to build an open platform that helps unlock the transformative potential of digital assets across global markets and commerce.”
Targeting investors of all sizes, this could positively impact the market in the short and long term.
This will the largest venture to pay in and pay out bitcoin that has ever been attempted, challenging the current notions of bitcoin being unstable and volatile. With these three global heavyweights behind the controls, this could represent a serious move toward adoption as they attempt to make bitcoin secure for bitcoin mutual funds, pension funds, and ETFs, in the form of highly regulated, mainstream investments.
Futures contracts in bitcoin have already been around for a number of months and are offered by both CME Group and Cboe Markets Inc. Bakkt’s new product will differ however in that these contracts will expire in a much shorter time-period and also pay out bitcoin, as opposed to cash, once they expire.
Do your own research, and learn to trust the content creators you follow. All in due time, and all good things come in time. This space could explode at any moment, and you bet I’ll be here when it does. Cant wait!
Let’s get this crypto!
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