Bakkt Holdings has filed a Form S-3 with the SEC to raise up to $1 billion.
Companies like H100 Group and DigiAsia reflect the growing interest of institutions in Bitcoin reserves.
Bakkt Holdings, a publicly listed cryptocurrency custody and rewards platform backed by Intercontinental Exchange, has filed a Form S-3 with the U.S. Securities and Exchange Commission (SEC).
Through this filing, the company plans to raise up to $1 billion through stock offerings and debt instruments.
The proposed capital raising may include a mix of Class A common stock, preferred stock, debt instruments and stock options.
Bakkt Holdings S-3 Filing
This move is not accidental.
Just two weeks ago, the Bakkt Board of Directors approved a new investment policy that allows for the allocation of treasury funds into Bitcoin [BTC] and leading digital assets.
The profile states:
“We may purchase Bitcoin or other digital assets using excess cash, funds from future equity or debt issuances, or other sources of capital.”
This decision will depend on general market developments, investor sentiment and Bakkt's internal performance.
The registration gives Bakkt quick access to capital markets, an important advantage given its history of losses and concerns about its ability to sustain operations.
On paper, the outlook is promising, but on the balance sheet? Still fragile!
Despite its strategic vision, Bakkt's finances are fragile.
The company's latest SEC filing highlights major challenges, candidly acknowledging a limited operating history and a string of ongoing losses.
More seriously, the filing warns of “substantial doubt” about Bakkt’s ability to continue operations, exposing the risks inherent in its ambitious crypto-focused treasury strategy.
Bakkt Holdings Stock Price and the Role of Bitcoin
Despite the concerns raised in the filing, Bakkt's recent strategic shift had a short-term positive impact on the stock price, which rose 3.09% to $13.33.
However, looking at the big picture is very nuanced.
Year-to-date data shows that BKKT has decreased by more than 46%, while last month it recovered positively with an increase of 16.61%.
A six-month look revealed a deeper loss of 51.51%, according to data from Google Finance.
These numbers show that investors are starting to respond positively to Bakkt’s evolving crypto-focused strategy.
If the company successfully implements its plan to buy Bitcoin, it will not only strengthen the treasury fund but also restore investor confidence, maintaining stability in the market.
The event coincided with Bitcoin trading at $106,789.75 after a slight drop of 0.92% over the past 24 hours, according to CoinMarketCap.
Still, this volatility hasn't stopped companies from increasing their BTC positions.
Other Companies Adapt to Bitcoin, Too
Swedish health tech company H100 Group AB recently saw its shares surge 45% after announcing plans to raise capital to expand its Bitcoin treasury.
Similarly, DigiAsia Corp created a huge stock frenzy by revealing plans to buy $100 million worth of Bitcoin.
Big names like Metaplanet and MicroStrategy have also laid the groundwork.
Taken together, these moves demonstrate growing institutional appetite for Bitcoin, affirming its status as a preferred reserve asset in a rapidly transforming modern corporate finance landscape.
Source: https://tintucbitcoin.com/bakkt-so-huu-1-ty-usd-bitcoin/
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