Image Source: Institutional Investors
After weeks of struggling, Bitcoin has quietly recovered on Wednesday. At press time, the world’s largest cryptocurrency hit $4181.25 with market cap $72,747,765,955. During the ebb and flow graph of bitcoin, reports revealed that the CEO of Intercontinental Exchange, Jeffrey Sprecher encourages Bitcoin.
At the Consensus Invest Conference in New York on Tuesday, the chair of the New York Stock Exchange, Jeffrey Sprecher discussed the present scenario of Bitcoin and crypto market. While looking at the news headlines questioning “Will digital assets survive? Jeffrey said;
“I’d say the unequivocal answer is yes.” “We’re kind of agnostic to price”.He adds
The conversation was held in presence of Bakkt’s CEO Kelly Loeffler who is also the wife of Jeffrey Sprecher. Bakkt, a crypto platform designed for institutional investors. However, it is owned by ICE to offer a federally regulated market for crypto assets. In contrast to competitor including CME Group and CBOE where Bitcoin futures are settled in cash, Bakkt will offer future contracts settle on a daily basis in BTC.
Loeffler remarked how bitcoin futures are settled in different prices on different exchanges. She ensured, Bakkt will help traders establish a trusted price. Since Bakkt is a product of the same company, it debuts crypto market with the support of big names – BCG, Starbucks, and Microsoft.
Reporting to Starbucks, Barron’s (a news source) reported that the coffee company cannot assure the timeline it sets to enable cryptocurrency payments for customers to get coffee with. Despite the market sell-off, it is good to remark a few of the major players are encouraging crypto price to rise up. Accordingly, Pascal Guthier, Ledger wallet’s president notes that;
At the very least, it’s a good sign that major institutions are doubling down on their investments, even as the price drops. Adding that “No one has dropped out of crypto,”