Just yesterday Bakkt announced another high level executive that comes to the project with an impressive resume’ and credentials that can’t be assailed. After speaking with several sources (disclosure: these sources have an equity position in Bakkt), it is clear that many, if not most, believe Bakkt is a nearly ‘fail-proof’ venture.
Just look at the executives, investors, announced partners – and the numbers really begin to add up. Venture capital scions and other well capitalized names that have taken a stake in Bakkt view the firm and its growing staff as the ‘gold standard’ and unmatched in the crypto space. We understand why.
Executives that include Kelly Loeffler, Adam White, and now Mike Blandina formerly of PayPal and Google. A board consisting of Tom Noonan, Jeff Sprecher, Sean Collins, and Akshay Naheta. Investors that include Mike Novogratz at Galaxy Digital, Fortress Capital, Pantera Capital, Boston Consulting Group, Eagle Seven, M12 (Microsoft’s venture capital arm), Goldfinch Partners, and several others.
A literal who’s who of Fintech venture capital and superstar execs with their sights set squarely on leading crypto to the promised land of adoption and usage for the masses.
One source who’s invested in the firm said the following, “You can never guarantee a win in venture capital or any such endeavor; but the risk/reward profile is seriously tipped in our favor as stakeholders. The team is as good as it gets, the tech has been in place for the better part of a decade (ICE), and planning for this moment has been going on for nearly four years. Our thesis, doubting this team would be foolish, so we remain very comfortable with our investment.”
Microsoft, Starbucks, and a bevy of executives and investors with lengthy and proven histories in building brands, mass marketing, work flow, leadership and good ole’ fashioned winning.
As a business it is a recipe for phenomenal success. As a marketing entity, and how it relates to crypto at large, Bakkt is on a mission to make spending and trading crypto as ubiquitous as credit cards and online brokerage houses.
Expect a marketing blitz that is smart and ever expanding. Bakkt is certainly planning on it being a large part of its eventual (inevitable) success.