In a Medium post earlier today, the CEO of Bakkt, Kelly Loeffler, has update the crypto and investor communities on the progress of the highly anticipated launch of the global platform. One major takeaway from the update, is that trading and warehousing of digital assets through Bakkt will launch on the 24th of January, 2019.
The statement announcing the new launch date is as follows:
Given the volume of interest in Bakkt and work required to get all of the pieces in place, we will now be targeting January 24, 2019 for our launch to ensure that our participants are ready to trade on Day 1.
BTC Futures Contracts Had Been Scheduled to Launch on the 12th of December
The new date in January, is a month later than the earlier anticipated December 12th launch of Bakkt.
Bakkt CEO, Kelly Loeffler, explained this further:
As is often true with product launches, there are new processes, risks and mitigants to test and re-test, and in the case of crypto, a new asset class to which these resources are being applied. So it makes sense to adjust our timeline as we work with the industry toward launch.
December 12th Had Been Expected to Ignite a Bull Run
With the currently ongoing Bitcoin Cash Hash Wars, talk was rife on Twitter, Telegram and other social media platforms, that Bakkt would reverse the bear market currently been experienced. This was due to the fact that Bakkt provided a platform for Institutional investors to invest in Bitcoin and other cryptocurrencies. Bakkt would have brought in the much needed institutional money to prop the value of BTC.
With the Bitcoin Cash hash wars yet to come to a conclusion, the crypto markets have been left in a state of limbo. However, many crypto traders are optimistic that Bitcoin will recover given its previous history of crashing heavily and getting back on course to surprise us.
Binance CEO, Changpeng Zhao, took to twitter to briefly tell how he took the leap of faith with BTC back in 2015 only for the digital asset to crash a few months later. His tweet was as follows:
I wish I could tell you my lame story from 2015, when the
$btc price “crashed” to below $200, and I just sold my house and bought in at $600 a few months earlier… Well, I am still here.
His full tweet can be found below.
I wish I could tell you my lame story from 2015, when the $btc price “crashed” to below $200, and I just sold my house and bought in at $600 a few months earlier… Well, I am still here.
— CZ Binance (@cz_binance) November 20, 2018
What are your thoughts on the new launch date for Bakkt? Please let us know in the comment section below.
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