ICE-founded Bakkt CEO affirms ‘crypto isn’t going away’ despite heightened volatility

ICE-founded Bakkt CEO affirms ‘crypto isn’t going away’ despite heightened volatility

The 2022 cryptocurrency market meltdown has partly cast doubt on the sector’s sustainability, with investors incurring losses. Notably, the crash has recorded casualties, with several businesses running into bankruptcy.

However, CEO of digital assets management firm Bakkt Gavin Michael, while speaking during an interview with Yahoo Finance on August 19, suggested that the crypto market is here to stay.

The executive noted there is still interest from retail and institutional investors, stating that most entities are now conversant with how the sector operates, especially with the volatility aspect.

According to Michael, following the recent dips, interest in the market is driven by the possibility of embarking on a rally in 2023.

Notably, Bakkt, which operates a crypto trading platform for institutional investors continues to expand its inroads into the digital assets space. Recently, the platform announced a partnership with Visa (NYSE: V) to offer crypto debit and credit cards.

Furthermore, the ICE-founded platform has an existing partnership with Mastercard (NYSE: MA) enabling companies to offer crypto as part of their loyalty reward programs.

Michael adds to the list of cryptocurrency players divided over the market’s next course of action.

 

 

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