NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

Bakkt Not Tipping Point for “Bitcoin Adoption”, CNBC Analysts Argue

Nick Chong
Nick Chong
1 year ago
3 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

On Sunday, a momentous occasion took place for the Bitcoin industry: The Intercontinental Exchange-backed Bakkt launched its much-awaited Bitcoin futures contracts after nearly a year of regulatory setbacks and logistical hurdles.

While many expected for there to be “fireworks” at the open, there weren’t. Indeed, as according to the Intercontinental Exchange’s market data says that the product has processed a mere ~70 BTC in volumes for its first trading session, paling in comparison to, say, the CME’s Bitcoin market.

Related Reading: Analyst: Bakkt Launch to Improve Trustworthiness of Crypto Markets

This leaned into theories tendered by CNBC analysts that Bakkt won’t be the “tipping point” for the adoption of cryptocurrencies. Yet they still asserted that it will be important for the growth and viability of this asset class in the long run.

Bakkt Not the Best Thing Since Sliced Bread

According to CNBC’s latest episode of “Fast Money”, Bakkt is not the best thing since sliced bread, despite what you might have read on Twitter just weeks or months ago. However, the exchange doesn’t come without its benefits.

Brian Kelly, the chief executive of BKCM, argued that regulated and large-scale investment products like Bakkt will “tamper down the volatility” in Bitcoin markets. Volatility, of course, is what industry leaders like Litecoin creator Charlie Lee will drive adoption.

As the NYSE parent Intercontinental Exchange launches bitcoin futures trading, @BKBrianKelly breaks down what it means for the cryptocurrency. pic.twitter.com/ronORISSXn

— CNBC's Fast Money (@CNBCFastMoney) September 23, 2019

Steve Grasso, the director of institutional sales at Stuart Frankel & Co. Inc., echoed this tacit optimism. He said that this product will give cryptocurrency traders with access to Bakkt “much more confidence”, and will overall “give credence to the whole Bitcoin story.”

Bitcoin’s Medium of Exchange Narrative

While the consensus on the “Fast Money” panel was that Bakkt will at the very most entice institutions in and marginally improve liquidity, Kelly went on to bring up a very important point. One that many have forgotten over the recent news cycle.

Touching on the fact that Starbucks is involved in Bakkt, with the coffee giant being an investor in the crypto exchange, the CNBC contributor argued that these new Bitcoin futures will help BTC’s medium of exchange narrative:

“The way that this product is structured, you can go into Starbucks with Bitcoin — they have it on their books — you can pay with BTC, they can hedge out any of the volatility, then they can have cash at the end of the day. Bakkt gets the medium of exchange [narrative] out there.”

While this may not make any sense, Starbucks accepting Bitcoin has been something that has been confirmed to some extent.

The Block broke the news earlier in 2019 that Bakkt is actually working closely with Starbucks, one of the world’s largest restaurant chains. Per their source, the coffee giant has managed to secure a substantial stake in Bakkt in return for “commitment to allow Bitcoin payments in store in 2019”.

Related Reading: Crypto Tidbits: Fidelity’s Bitcoin Offering Live, Starbucks May Accept Cryptocurrency

Bakkt has also been looking for developers to build out a mobile application. While little is known about this facet of the recently-launched startup, many suspect that it will be a wallet and payment mechanism that will allow users to spend Bitcoin and cryptocurrencies.

And if what Kelly said is correct, futures will play a key role in this aspect of the Bakkt ecosystem.

Featured Image from Shutterstock
Tweet123Share216ShareSend
Nick Chong
Nick Chong

Nick Chong

I am a writer who has been following Bitcoin for years now. My insights and interviews have been featured in leading publications in the industry such as LongHash and Decrypt. I own a small amount of Bitcoin.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Bitcoin Price Breaks $100K

Bitcoin Price Retreats After Hitting ATH — Bulls Pause for Breath

Bitcoin price started a fresh increase above the $118,500 zone. BTC traded to a new high above $120,000 and recently...

Aayush Jindal 3 hours ago

【全新升級】Bitunix整合TradingView圖表系統 打造移動裝置專業加密交易 

隨著全球加密市場逐漸邁向成熟,交易者對於圖表分析與下單體驗的要求也日益提高。作為全球成長最快的加密衍生品平台之一,Bitunix 率先將TradingView完整整合進其Web與App端,實現跨裝置一...

Peter Chow 3 hours ago

比特幣突破12萬美元上望20萬 值得關注5種可能突然上漲100倍山寨幣

隨著七月第三週展開,加密貨幣市場迎來了技術形態突破與敘事轉換的關鍵時刻。比特幣延續突破勢頭,今日突破12萬美元大關,市場信心持續累積;而與此同時,一系列加密資產也開始呈現結構性機會。其中,XRP、So...

Mark Mak 4 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

memecoins, crypto, trump, memecoin

Top Crypto Exchanges Made $172 Million From TRUMP Memecoin Listing – Report

Rubmar Garcia 18 minutes ago
Spot Volume Drop on Binance Preceded Bitcoin’s Price Surge, Data Shows

Spot Volume Drop on Binance Preceded Bitcoin’s Price Surge, Data Shows

Samuel Edyme 1 hour ago

Bitcoin Exchange Inflows Spike After $123,000 Peak – Signs Of Short-Term Cooling?

Ash Tiwari 3 hours ago

Premium Sponsors

Press Releases

  • How XRP Users Can Make $1 Million from $100 in No Time at...

    5 hours ago
  • Aceste 3 monede sub 5 lei ar putea transforma o investiție de 1.000 RON în 10 milioane RON până în 2027

    2 достъпни криптовалути с...

    9 hours ago
  • Aceste 3 monede sub 5 lei ar putea transforma o investiție de 1.000 RON în 10 milioane RON până în 2027

    2 megfizethető kriptó 9000%-os potenciállal, olyan...

    10 hours ago
  • 2 cenovo dostupné kryptomeny s potenciálom 9 000 %, podobne ako kúpa Etherea za 8 dolárov začiatkom roku 2017

    2 cenovo dostupné kryptomeny s potenciálom 9 000 %...

    11 hours ago
  • Bitcoin Hyper

    ...

    15 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.