Bakkt "stirs" to raise 1 billion USD, aiming to hold Bitcoin like MicroStrategy?

The digital asset platform #BakktHoldings has just submitted a filing to the US SEC to raise up to 1 billion USD through the issuance of securities, paving the way for a strategy to add Bitcoin to its treasury.

According to the latest S-3 filing, Bakkt will have an available "limit" of 1 billion USD including common stock, preferred stock, bonds, warrants… ready to issue when market conditions are favorable.

This move follows the new investment policy announced last June, allowing Bakkt to allocate capital to Bitcoin and digital assets, similar to what large corporations (MicroStrategy, Metaplanet) are doing to diversify their assets.

Currently, Bakkt has not yet purchased $BTC immediately but will "probe" for a suitable timing, depending on market developments and capital demand. At the same time, the company is also considering expanding its operations globally, especially targeting the Asian market – where the regulatory frameworks in Hong Kong and Singapore are relatively clear, liquidity is deep, and financial infrastructure is developed.

However, experts believe Bakkt needs to skillfully "navigate" between the specific regulations of each country if it wants to turn its Bitcoin holding plan into a long-term competitive tool.

A signal that the wave of Bitcoinizing balance sheets is still ongoing. #anhbacong