Eye-Popping Projection for $3T Crypto Market Underpins Bakkt Deal

Eye-Popping Projection for $3T Crypto Market Underpins Bakkt Deal


Cryptocurrencies could grow fivefold by 2025 into a $3 trillion market, under new projections from Bakkt Holdings, the digital-asset financial firm.

Bakkt published the estimate as part of an investor presentation released Monday in connection with its new plan to go public via a merger with Victory Park Capital, a special-purpose acquisition company. Bakkt is majority-owned by Intercontinental Exchange Inc., which also owns the New York Stock Exchange. The deal would give Bakkt an enterprise value of about $2.1 billion, according to a press release.

The underlying assumptions behind the transaction show just how bullish investors, entrepreneurs and financial executives have become over the past year on the fast-paced digital-asset industry, especially after prices for bitcoin, the largest cryptocurrency, quadrupled in 2020.

Just last week, the industry’s total market capitalization surpassed $1 trillion for the first time, though a swoon over the past few days in prices for bitcoin and other digital

Continue reading

You Might Like

Do NOT follow this link or you will be banned from the site!
Thanks for sharing!
Send this to a friend