Fundstrat’s Tom Lee Is "Very Positive" on Bakkt, Claiming That It Will Help Build Trust in Crypto

Libra Coin News
Fri, 09/20/2019 - 06:05
Alex Dovbnya
Fundstrat boss Tom Lee is certain that Bakkt will inject a dose of reputational repair in the cryptocurrency market
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Tom Lee, the co-founder of research boutique Fundstrat, is certain that Bakkt will bring the necessary level of trust into the world of cryptocurrencies, allowing institutional investors to freely dip their toes into this nascent market.

The ICE-backed exchange is expected to launch its physically-delivered Bitcoin futures on Sept. 23.

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Bakkt is just around the corner

Bakkt was supposed to be launched back in December 2018. Despite multiple postponements, the hype around this platform has reached enormous proportions.

Unlike CME, which offers cash-settled Bitcoin futures, Bakkt customers will be able to get their payouts in BTC when a contract expires.

As reported by U.Today, Bakkt Warehouse, the company’s custodian service, recently opened its doors for customers, and that coincided with somebody moving a whopping $1 bln worth of BTC on the same day.

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Crypto hopium goes through the roof

Bakkt is not the only major event to keep a close eye on. CME futures rollover is also expected to happen around the same time. According to trading expert Josh Olszewicz, this could be even more impactful in the short-term.

Meanwhile, the great descending triangle of 2019 is inching closer to the long-awaited resolution, which is about bound to happen at the same time with the launch of Bakkt’s Bitcoin futures.

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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