Cryptocurrency platform Bakkt (BKKT) is seeking to raise capital through a Class A common stock offering, Unfolded reports. The company intends to use the proceeds to invest in cryptocurrencies, including Bitcoin (BTC), and to cover operating expenses. The market reacted negatively to the announcement, with Bakkt's stock price experiencing a significant drop of over 30% in after-hours trading. This news follows previous reports of Bakkt's intention to raise $1 billion, potentially earmarked for acquiring BTC. The specific amount Bakkt aims to raise in this latest offering remains undisclosed. Investors are likely concerned about potential dilution and the uncertainty surrounding Bakkt's future profitability in the competitive crypto landscape. The funding will enable Bakkt to expand its cryptocurrency offerings and further develop its custody solutions. ```

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