Altcoin News: Bakkt with First Customers
July 26, 2019, by Marko Vidrih on ALTCOIN MAGAZINE
Since Monday, July 22, Bakkt offers its services for the first customers. On the company’s platform, institutional investors can trade in Bitcoin futures (also Bitcoin futures).
This is not done with the cryptocurrency itself but speculates on how the price will develop. At Bakkt it works a little bit differently. Every Bitcoin used to complete a Bitcoin future is located in a digital warehouse (Bakkt Digital Asset Warehouse). Hence the name of the platform; all Bitcoins are “backed up”.
Traditional investment firms that want to get on the Bitcoin train have different requirements and regulations than you and me.
One of these requirements is the secure storage and the certainty that the investment is insured against theft. And that’s exactly why the Bakkt Digital Asset Warehouse is being built and the implementation of the project is eagerly awaited. Bakkt offers insurance against theft.
What does this mean for us? We can’t classify yet, but the future stream of new institutional money can turn the tables for Bitcoin!
Author: Marko Vidrih
