Bitcoin News

BAKKT reported that they will open their warehouse on Sep. 6 to allow clients to deposit bitcoin before the platform launches. If this news is true this could really increase price since large players can buy and store their bitcoin securely. The BAKKT futures platform is set to launch Sep. 23 and it will be fully regulated in the USA.

The exchange Binance has come out with a bitcoin futures product. Supposedly it goes live today. It seems to me that companies are competing to launch bitcoin products. As more and more products keep coming out bitcoin will be exposed to more people and money will flow into BTC nonstop. 

Unlike a Bitcoin ETF that is (or should be) physically backed by Bitcoin, I think futures are just a derivative that are just based on the price of Bitcoin, but have no actual affect on the Bitcoin price. Actually, they may take buying pressure off Bitcoin. This is because instead of investors buying actual Bitcoin, which can have problems such as security, they can simply invest in these derivatives instead and bypass those problems.

Futures are only one type of product. There are more in the works. I think there is a very good chance an ETF will go live in the USA in the next 6 months or so. There are also physically backed futures coming out within weeks supposedly. Also there is a bitcoin trust that went live last week. This will allow institutions to directly invest in bitcoin. This is all perfectly being timed on purpose. The US China trade war is heating up which will make more investors look elsewhere to put their money. Governments are all in debt. This current system is collapsing and they are looking for an escape hatch. This is how I see it.

I hope this is correct. The key is products/services that are physically backed by Bitcoin. This will take actual supply down. If they can play their paper games like they do with Silver, it's not a good thing.

The owners of the New York Stock Exchange are rolling out physically backed futures within weeks called BAKKT. These people don't come out with things like this for no reason. Plus the bitcoin halving is next year. These big players know this and they put all kinds of wrong info out there hoping to scoop up the common folk's bitcoin for cheap.

The second largest stock exchange in Germany, the Stuttgart stock exchange launches bitcoin trading today. Also BAKKT physically settled futures launched today in the USA. 

Today BAKKT set a new all time high for bitcoin futures contracts. There were 1179 contracts traded today. These are physically settled contracts. Last month there were under 100 traded so it is growing exponentially so far.

BAKKT set another new all time high of bitcoin futures. On Nov.22 there were 2728 contracts traded.

A New York company named Wisdomtree has launched a physically backed bitcoin exchange-traded product (ETP) on Switzerland’s SIX stock exchange. This is another major investment product based on BTC.