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Benzinga

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Aniket Verma

This Under-The-Radar Crypto Stock Lifted 3% On $1 Billion Fundraising That Could Go Into Buying Bitcoin

Bitcoin Crypto Bakkt BKKT Cryptocurrency SEC

Bitcoin

Shares of Bakkt Holdings Inc. (NYSE:BKKT) rose in Thursday’s trading after the cryptocurrency custody company announced plans to raise as much as $1 billion, with proceeds potentially getting allocated to buy Bitcoin (CRYPTO: BTC).

What Happened: The possible shelf offering might include sales of Bakkt’s Class A common stock, preferred stock, warrants, and debt securities, according to an SEC filing. The funds are expected to be used for working capital and general corporate purposes, with a portion potentially allocated to Bitcoin.

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