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ICE & NYSE Chairman Optimistic About Future of Cryptocurrency Ahead of Bakkt Platform’s Launch

ICE & NYSE Chairman Jeffrey Sprecher future of crypto currency is unequivocally yes

November 29, 2018 17:36
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According to reports from American weekly financial newspaper Barron, Jeffrey Sprecher chairman of New York Stock Exchange and CEO of Intercontinental Exchange (ICE) expressed optimism regarding future of crypto currencies as an asset class. When speaking at Consensus Invest conference in New York, Sprecher responded to headlines like “Will digital assets survive?” stating “I’d say the unequivocal answer is yes. We’re kind of agnostic to price”. He was joined on stage by his wife Kelly Loeffler who is also known as CEO of much hyped, yet to be launched crypto-platform Bakkt which is backed by ICE. Bakkt has been reported to be active in crypto community with aim to increase crypto adoption and merchant but transactions but the platform hasn’t been launched officially pending regulatory approval which resulted in delay of initial launch plan scheduled during December 2018. However things seems to be heading in positive direction as the platform is expected to debut on January 24, 2019 and is expected to offer physically-settled Bitcoin futures as well as allow investors to buy, sell, store and spend digital assets.

There have been several headlines which state that Bakkt is partnering with Microsoft and Starbucks to bring crypto-to-fiat conversions to the mainstream. Dubbed by mass media as “phase two” of the platform’s operation, this service is also expected to be available once the platform is launched in January. When questioned about recent decline in market value of bitcoin, Loeffler CEO of Bakkt Platform commented that bitcoin price action isn’t a factor right now for Bakkt’s launch and added that “The price is being expressed but there’s a lot of missing infrastructure and use cases”. When asked about why Bakkt is mostly focusing on Bitcoin, Sprecher explained that “Oftentimes in finance, it’s not about being the best. It turns out about being the broadest and the most commonly accepted. And for whatever reason, Bitcoin has sort of become that”. Loeffler says that delay in launch of Bakkt platform gives more people time to get on board signaling belief and possibility of bright future for the platform.

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