Upcoming Bitcoin Futures Exchange, Bakkt Secures Funding From World’s 23rd Richest Person
Bitcoin(BTC) hasn’t experienced a great year in terms of its valuation. Following its 80% slide from its perch, many naysayers have tried to discredit the BTC, however, the token manages to have a long list of loyal followers as well, joining the list is one of the world’s richest people as he backs Bakkt.
Li Ka-shing, the 90-year old multi-billionaire, who is also known as Superman has invested in Bakkt, an upcoming bitcoin and cryptocurrency platform created by Intercontinental Exchange. Bakkt recently announced in a blog post that they have raised $182.5 million in its series A funding round. A portion of the aforementioned funding is from Li Ka-shing via his venture capital firm Horizon Ventures.
While cryptocurrency markets including BTC observed a bear market in 2018, that was dubbed as Crypto winter, many investors around the world continue to trust the ecosystem and pour money into cryptocurrency development. 2019 has so far been a good start for the market, while the market eagerly waits for Bakkt’s bitcoin derivative to be released as soon as it gets the necessary approvals, the future seems to be on the brighter side.
Bakkt is a bitcoin platform being developed with New York Stock Exchange owner Intercontinental Exchange as well as partnerships with coffee shop chain Starbucks and PC giant Microsoft. The aforementioned Bakkt instrument is aimed at offering bitcoin futures trading to a wider retail market.
After the release of its product, Bakkt will enable investors to buy, sell, store and spend cryptocurrencies through Microsoft’s cloud, while Starbucks will let them convert bitcoin and other cryptocurrencies to U.S. dollars to make
The idea of expressing one’s views and reviews through words is beyond intriguing. What started as a creative let out has now become a passion and a profession for Arshmeet K Hora. In her own words ” with every word, every article that I write, my passion towards this medium has grown stronger.” Arshmeet covers latest crypto news and updates as well as what happening new revolving around Blockchain Technology.