Fundstrat: Bakkt Bitcoin Futures To Launch By End Of This Quarter
Fundstrat Global Advisors CEO and strategist Sam Doctor tweeted that Bakkt Bitcoin futures should be launched in the current quarter..
The Doctor prepared his message following the Bakkt Digital Asset Summit on July 18. Analyst expects Bakkt futures launch to accelerate institutional investors’ entry into cryptocurrency market.
“It looks like a critical mass of followers have accumulated ready to enter the market on the day Bakkt launches. The sales team is gaining momentum in working with brokers, market makers, trading floors and liquidity providers, “he writes..
As follows from the publication, during the mentioned event, the Commissioner of the US Commodity Futures Trading Commission (CFTC) Don Stump expressed the opinion that cryptocurrencies do not threaten financial stability, and society is showing an increasing interest in bitcoin futures.
Blocktower investment director Ari Paul, speaking at the conference, said that cryptocurrencies will gain significant adoption among retail consumers when they become as easy and safe to use as PayPal. He also noted that digital assets should not be ignored by financial institutions, given their low correlation with traditional markets and their ability to skyrocket in value. According to Paul, the main value proposition of cryptocurrencies is their protection from inflation and withdrawal by third parties..
Pantera Capital CEO Dan Morehead said that most of the existing tokens will fail, while several base-level protocols will survive and be used to build thousands of decentralized applications. He also echoed skeptics who claim that bitcoin lacks “intrinsic value,” while noting that the intrinsic value of Jackson Pollock’s paintings is around $ 40, which has been spent on canvas and paint, which does not prevent them from rising in value.
Bakkt Bitcoin Futures Testing Set To Start On Monday 22 July.