Bakkt projects an all-round growth with a 75% surge in revenue by 2025. This means the value will be around $515 billion with a cash-flow positive expected to take effect in 2023.
On January 8, 2021, Bitcoin staged an unprecedented bull run to trade around $41,941 dominating the cryptocurrency market that was enjoying a record market cap of $1.1 trillion. The high addition of gains within a very short time coupled with the trillion market cap got some investors worried over what they claimed to be an impending burst. Despite the pullback expectations, Bakkt in their recent projection predicted a massive growth of around threefolds for the crypto market by 2025. If this happens, then the 6-digit trading price of Bitcoin predicted by experts would materialize.
The assumption of this prediction was born out of the crypto investor’s projection made by Bakkt Holdings on Monday when disclosing their plans of going public through a merger with Victory Park Capital Impact Acquisition Holdings Inc in a deal worth about $2.1 billion. This transaction reflects how far the digital market has come with investors, financial executives, and entrepreneurs becoming bullish in the last decade. Their changed actions contributed to the record run of the Bitcoin price and the spread over effect on Ethereum in 2020. Bakkt Holdings revealed in their presentation, their plans that can contribute a lot to the underlying projection.
They operate cryptocurrency derivatives which include Bitcoin Futures. The company plans on coming out with a consumer application in March that will enable users to conveniently manage their digital assets. This will give them an alternative to cash as they can spend the assets or use them for peer-to-peer payment.
According to the former head of technology for Citigroup‘s Global Consumer Bank, Gavin Michael, this initiative will unlock a large market in the ecosystem.
“It’s these shifts that we are leveraging for the benefit of both customers and merchants, truly unlocking a massive market by empowering the monetization of digital assets,” he said.
According to the presentation, the company’s overall target market will increase to $5.1 trillion in 2025, and this will consist of a cryptocurrency market of $3 trillion. The serviceable addressable market operated by the company in 2020 was around $1.6 trillion as stated in their presentation. Out of this, $564 billion was the share of the cryptocurrency market.
Bakkt Holdings projects an all-round growth with a 75% surge in revenue by 2025. This means the value will be around $515 billion with a cash-flow positive expected to take effect in 2023.
Bitcoin has for the past few years caught the attention of many institutional investors with their contribution driving the price very high. Other individual investors including Robert Kiyosaki, the author of Rich Dad Poor Dad have switched their investments to Bitcoin. The ever-growing adoption and the many initiatives by cryptocurrency firms in the pipeline can play the magic to send the cryptocurrency market cap to a higher value shortly.
Excellent John K. Kumi is a cryptocurrency and fintech enthusiast, operations manager of a fintech platform, writer, researcher, and a huge fan of creative writing. With an Economics background, he finds much interest in the invisible factors that causes price change in anything measured with valuation. He has been in the crypto/blockchain space in the last five (5) years. He mostly watches football highlights and movies in his free time.