Bakkt, a crypto infrastructure company listed on the NYSE, is seeking to raise $1 billion to potentially acquire Bitcoin and other cryptocurrencies as part of its updated investment policy. While the filing with the SEC does not directly specify that the funds will be used for crypto purchases, it hints at a shift in strategy toward establishing a crypto treasury. However, Bakkt acknowledges the volatile nature of digital assets and the associated risks in their investment approach, reflecting a cautious market outlook amidst the growing trend of companies diversifying into crypto assets.
We may acquire Bitcoin or other digital assets using excess cash, proceeds from future equity or debt financings, or other capital sources, subject to the limitation set forth in our Investment Policy.
The timing and magnitude of any such transactions will depend on market conditions, capital market receptivity, business performance and other strategic considerations.
Collection
[
|
...
]