Bakkt Allowing Crypto Deposits From Sept 6
September 23rd sees the launch of the long-awaited, officially Bakkt (sorry) cryptocurrency trading platform from the New York Stock Exchange.
AND as of the 6th of September, they will offer safe storage of Bitcoin tokens and eventually, certainly the main three including, of course, XRP.
Bakkt’s physically delivered futures have been the subject of much anticipation from the crypto community as the company faced multiple delays in launching the platform due to compliance issues.
Coin Telegraph - Full Story
Bakkt crypto warehouse is secure online storage for crypto assets, getting the platform ready for an expected explosion of interest in digital assets.
Ok so this is initially only for hodlers of Bitcoin but allow us to explain why this could be huge for XRP.
Prepare for Launch
Once Bakkt launches Bitcoin futures fully on the 23rd of September it is expected that huge interest will suddenly flood into the cryptocurrency market as a whole.
They also have plans to add XRP and Ethereum to the list of digital assets although no timeline has yet been given.
We’ll consider additional contracts as the landscape evolves and as we receive additional customer feedback about what they want and need
Bakkt
Obviously the whole cryptocurrency ecosystem is yet to mature and appear an investible asset to the big players.
Even if Bakkt does not list XRP for a few years, the renewed interest in cryptocurrency as a whole will feed the fires of the next bull run.
History Repeating?
Just like the bull run finale of Dec 2017 where XRP rose to a whopping $3.60 and return for the year hit 36,000% as compared to Bitcoin’s 8000%.
Two huge factors are on the horizon which will send investors scrambling to get into the crypto market, Bakkt launch and Bitcoins reward halving.
When sudden interest in Bitcoin goes crazy, whatever the cause investors who feel they cannot afford a whole Bitcoin typically look for cheaper cryptocurrencies to invest in.
So if average Joe’s like me and you can push the price of XRP to $3.60, what do you think will happen when a huge % of the worlds 8 billion people invest too??