Editor's Note: This article comes fromVernacular Blockchain (ID: hellobtc)Editor's Note: This article comes from
Vernacular Blockchain (ID: hellobtc)
Vernacular Blockchain (ID: hellobtc)
, Author: William Chen, reproduced by Odaily with authorization.The long-awaited Bakkt is finally online!At 8:00 pm on September 22, US time, Bakkt went online as scheduled, and the price of the first bitcoin contract was $10,115.
Previously, most people in the industry were saying
The launch of Bakkt will bring a "super bull market"
, so people's expectations were adjusted to a high point. Therefore, after seeing the launch of Bakkt, many people were disappointed by the flat reaction of the entire encrypted asset market.
In fact, there is no need to be disappointed, after all, this is just the beginning.
Also, quite a few people have talked about the low trading volume. As of 10:00 am today (September 24), Bakkt's official website shows that the cumulative transaction volume is 71BTC. As a new trading platform, it is normal for the transaction volume to be low when there are not many users at the beginning.
For the launch of Bakkt, many people were surprised and surprised. For example, Matt Odell, a well-known Bitcoin KOL on Twitter, said that he was "really surprised":Twitter big V Joseph Yang commented: "Bakkt did not show too much bitcoin trading volume on the first day of trading, and it was not as popular as many people expected. However, Bakkt was officially launched before the end of this year. In order to enter 2020 2019 set a good precedent. Volumes are likely to pick up as brokers get ready.”Blockstream founder Adam Back hinted that Bakkt will actually take a while to generate enough transaction volume.
Chicago Mercantile Exchange (CME)
Futures opening compared to today's trading volume. "
Combined with the fact that Bakkt reposted an article titled "Can the Release of Bakkt Help Bitcoin Become Mainstream" published by "Fortune" magazine when it was warming up, let's sort out with you today why Bakkt will help Bitcoin. Coin into the mainstream?
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Backed by ICE, strong background
The background of Bakkt is very conspicuous. Behind it is the New York Stock Exchange (ICE), with strong financial strength and close enough relationship with mainstream financial institutions and Internet companies.
In addition to the strength of the parent company, the 12 investment institutions that made the first round of investment in Bakkt are also strong:
1. Boston Consulting Group: a well-known American business management consulting company, with offices in more than 90 cities in more than 50 countries, with more than 16,000 employees.
2. Alan Howard: One of the 40 highest-paid hedge fund managers in the 2013 Forbes list.
3. Horizons Ventures: Horizons Ventures under Li Ka-shing.
4. Intercontinental Exchange (ICE)
5. Microsoft's Venture Capital Arm M12: Microsoft's venture capital.
……
6. Panteracapital: The first bitcoin investment company in the United States.
8. Naspers: Tencent's largest shareholder.
This is why Bakkt was able to obtain a valuation of one billion US dollars before any products were released, and the reason why Bakkt received nearly 200 million US dollars in investment in the angel round. You must know that such an investment scale is very rare in the Internet industry, let alone Bitcoin-related industries that are not optimistic in mainstream circles.
In fact, when people see that there are almost no relevant investment institutions and companies in the circle in the list of investors, they should be very clear: Although Bakkt is also doing bitcoin-related business, it is not completely related to the current "mainstream bitcoin circle". .
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Make Bitcoin more popular in the traditional financial field
The previous point mentioned that Bakkt is not completely related to the "mainstream Bitcoin circle". In fact, there is another point that can be reflected, that is, there is almost no intersection between Bakkt's target users and the current users in the circle.
In other words, every user of Bakkt may become a new user in the circle.
Therefore, many people say that this is a long-term benefit, because every new user is an "increment".
One of the most criticized problems in the current encrypted asset investment circle is that there is no increase, and it has been in a state of "mutually cutting stocks" for a long time. If there is no influx of fresh blood, how much "rich" effect can the current size have? Without enough users, how can there be good products and good companies with world influence?
Therefore, we should welcome and support any entrants from the traditional financial world who can "inflate" the size of this circle by a circle or two, shouldn't we?
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Partnering with Starbucks for better access to the payments market
For example, if you use WeChat or Alipay to pay, the money you pay for coffee to Starbucks is actually transferred to a middleman (WeChat/Alipay), and finally the middleman settles with Starbucks every once in a while.
So, if the middleman is Bakkt invested by Starbucks, Microsoft, etc., is it more likely to make Bitcoin a means of payment? The answer is self-evident.
Therefore, in the long run, Bakkt can help Bitcoin enter the daily payment market.
secondary titleLet Bitcoin not be afraid of regulationAt any time, regulation is a sword of Damocles hanging over Bitcoin. Of course, it is not that regulation can destroy Bitcoin, but that regulation can prevent investors from investing in Bitcoin in every possible way.
The reason why many investors outside the circle stay away from encrypted assets such as Bitcoin is the "fear of supervision", such as worrying about:
Will I Get Caught Buying Bitcoin?
If Bakkt is successful, it can help Bitcoin avoid this problem to a large extent, because with the endorsement of the New York Stock Exchange platform, Bitcoin will have a layer of protection for supervision.
Therefore, if there is less worry about this layer, it will help Bitcoin increase many investors.
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Many institutional investors just regard Bitcoin as a normal investment product, just like gold, oil, euros, real estate, funds, and bonds. They may be attracted now, but because their funds are too large, they cannot find a suitable investment platform.
summary
Now, the launch of Bakkt is to provide such a platform for these institutional investors, and it also has custody services, so they don’t have to worry about the safe storage of Bitcoin.
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