RATE Group | Bitcoin could come to your 401(k) with Starbucks’ Bakkt, investor says
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Bitcoin could come to your 401(k) with Starbucks’ Bakkt, investor says

04 Aug Bitcoin could come to your 401(k) with Starbucks’ Bakkt, investor says

Posted at 19:40h in Bitcoin News by

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Starbucks going all-in on cryptocurrency is “the biggest news of the year for bitcoin” — because it paves the way for a bitcoin ETF, according to BK Capital Management founder Brian Kelly.

Starbucks, the Intercontinental Exchange (ICE), Microsoft and BCG, among others, announced on Friday they are working to launch a new company called Bakkt. Along with enabling consumers to use bitcoin and other cryptocurrencies at Starbucks, Bakkt will leverage Microsoft cloud to create an open and regulated, digital asset ecosystem, ICE announced on Friday.

“They’ll now have a U.S.-regulated exchange and they have a licensed warehouse, which is how commodities are stored and that’s going to make it a lot easier for an ETF to come through,” Kelly, a bitcoin enthusiast, said on CNBC’s “Fast Money.”

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