December 9, 2022

Do you know how costs of a cryptocurrency change or increase in the passage of time? A lot of people are interested in investing in digital companies or platforms. But they do not completely understand the concept behind digital investments, specifically cryptocurrency. 

So, we’re bringing the most straightforward information regarding BKKT coins to help you understand the basic investments.

It’s hard to believe however, even students in Canada and the United States and Canada and Canadahave been investing in cryptocurrency to earn additional money from savings. If you’re looking to invest your savings in cryptocurrency, then you must think about reading the ” Bkkt Stocktwits” article.

About BKKT

Stocktwits was first introduced as an Twitter app in the year 2008, and it was one of the first company to connect conversations about tickers employing the phrase “cashtag,” to distinguish the tickers. It is now an independent social network that is the most authoritative voice for “social finance.” In real-time, Stocktwits is the most efficient method of learning about what’s happening in the business, markets, and the assets you’re interested in. The tools, financial media and services we provide to the future GEN of investors and traders are constantly evolving.

Key Data of Bkkt Stocktwits

52WK LOW: 31.21

52WK HIGH: 103.40

MKT CAP: 2.98b

VOLUM: 431.06k

Let’s talk more in depth about the Coin.

Recent Accomplishments

Bakkt is an exchange for crypto, has announced two major partnership agreements: Mastercard and Fiserv, each with its own independent agreement. Bakkt is among the top shorted companies that trade on the New York Stock Exchange, increased its share price in response to the revelations.

What do you mean by what is the BAKKT money transfer?

Bakkt is a cryptocurrency and digital wallet exchange that offers digital asset services , in addition to its main business. The company was listed on the stock exchange under BKKT after it was SPAC’d to go public through VPC earlier in the year.

is a deal through MasterCards Bkkt Stocktwits

The partnership with MasterCard will include cryptocurrency into the loyalty program offered by the company known as BKKT. Customers can spend and earn rewards using cryptocurrency instead of loyalty points that are traditional. 

This will also make it feasible to allow Mastercard to issue debit and credit cards.

Bakkt’s collaboration with Fiserv expands the range of the potential for cryptocurrency, allowing retailers with HTML2to offer a greater variety of payment options using cryptocurrency to their customers.

Since the basic information regarding the BKKT Stocktwits are available through Google Anyone can access information on that same website. We have however listed only the latest transaction and business activity which took place within the BKKT Company.

The profitability countdown of Bkkt Stocktwits is not expected to stop recently. Read more details about BKKT here.

Do you understand how the prices of a crypto coin increase or decrease with time? Many people want to invest in digital platforms or firms. However, they do not fully understand the concept of digital investment, mainly cryptocurrency. 

Hence, we are bringing some easy to understand details about BKKT coins for your simpler investment solutions.

You would not believe it, but even students in the United States and Canada have started investing in cryptocurrency to make extra income from their savings. If you are also interested in investing your savings into cryptocurrency, you may certainly consider reading this “Bkkt Stocktwits” post. 

Key Data of Bkkt Stocktwits

Recent Accomplishments

What exactly is the BAKKT wallet?

Deals with MasterCards: Bkkt Stocktwits

Deals with FISERV 

Stocktwits began as a Twitter application in 2008 and was the first to aggregate conversations around tickers by using the cashtag to identify them.

 Today, it is a stand-alone social network that serves as the definitive voice in the field of “social finance.” In real-time, Stocktwits is the most effective method to learn about what is happening in the markets, businesses, and assets you are interested in. The financial media, tools, and services we provide for the next GEN of traders and investors are always evolving.

Key Data of Bkkt Stocktwits

52WK LOW: 31.21

52WK HIGH: 103.40

MKT CAP: 2.98b

VOLUM: 431.06k 

Let us discuss more about this Coin.

Bakkt, a cryptocurrency exchange, announced two significant partnerships:

 Mastercard and Fiserv, all independent agreements. Bakkt, among the most heavily shorted firms on the New York Stock Exchange, soared as a result of the disclosures.

Bakkt is a digital wallet and cryptocurrency exchange that provides digital asset services in addition to its primary business. Last week, the business went public under BKKT after being SPAC’d to market through VPC earlier this year.

The agreement with MasterCard will see cryptocurrency integrated into the company’s loyalty product that is BKKT. Customers will be able to spend and earn rewards in cryptocurrency instead of traditional loyalty points. It will also make it possible for Mastercard to issue credit and debit cards.

Bakkt’s partnership with Fiserv further broadens the scope of cryptocurrency potential, enabling merchants  to provide a wider range of cryptocurrency payment choices to their consumers.

Since basic details about Bkkt Stocktwits are already provided by Google, anybody can get details from the same platform. Nonetheless, we have listed only the recent business and transaction activities that happened within the BKKT Company.

After going through all the headers, you have some amazing offers to buy BKKT coins and earn handsome returns on all your investments. Regardless of whether you are a new or an old investor in cryptocurrency, you will always find websites or crypto executives online who will assist you. 

If you have more questions about Bkkt Stocktwits, please share them in the comment section.

Are you aware of how costs of a cryptocurrency fluctuate or decline over the passage of time? Many investors want to invest in digital companies or platforms. But they do not completely understand the concept behind digital investments, specifically cryptocurrency. So, we’re bringing an easy-to-understand information regarding BKKT coins to simplify your options for investing.

You wouldn’t believe it that even students from Canada and the United States and Canada and Canadahave begun investing in cryptocurrency in order to earn an extra earnings from the savings they have made. If you’re thinking of investing your money into cryptocurrency, you should think about reading the ” Bkkt Stocktwits” blog.

Stocktwits was first introduced as an Twitter application back in 2008.

 It was also the very first application to connect conversations about tickers making use of the term “cashtag” to distinguish the tickers. Today, it’s an independent social network that is the most authoritative voice for “social finance.” In real-time, Stocktwits is the most efficient method of learning about what’s happening in the market, the business and the assets you’re interested in. The financial tools, media and services we offer to the future GEN of investors and traders are constantly changing.

Key Data Of Bkkt Stocktwits

52WK LOW: 31.21

52WK HIGH: 103.40

MKT CAP: 2.98b

VOLUM: 431.06k

READ MORE:  Actor William Hurt Net Worth The Final Verdict

Let’s discuss more in depth about the Coin.

Bakkt is an exchange for crypto, has announced two major partnership agreements: Mastercard and Fiserv, each with its own independent agreement. Bakkt is among the firms that are most frequently shorted in the New York Stock Exchange, has risen in the wake of the announcements.

Bakkt is an online digital wallet and cryptocurrency exchange that offers digital assets in the context of its primary business. The company was listed on the stock exchange under BKKT after having been SPAC’d to go public through VPC earlier in the year.

Is A Deal Using MasterCards Bkkt Stocktwits

The partnership with MasterCard will allow cryptocurrency to be integrated into the loyalty program of the company which is BKKT. Customers will be able to make purchases and earn rewards using cryptocurrency instead of the traditional loyalty points. This will also make it feasible that Mastercard to issue debit and credit cards.

Bakkt’s collaboration with Fiserv will further expand the reach of the potential for cryptocurrency, allowing retailers with HTML2to offer a greater variety of payment options for their customers.

Since the basic information regarding BKKT’s Stocktwits are available through Google Anyone can access information on this same source. However, we have included only the latest transaction and business activity which took place within the BKKT Company.

READ MORE:  How First Time Home Buyers Are Calculating Lenders Mortgage Insurance (LMI)

After reading through all headers, you can find fantastic deals to purchase BKKT coins and make impressive returns on your investment. No matter if you’re an experienced or new user of cryptocurrency There are always cryptocurrency executives or websites that can assist you.

BKKT is the latest post-merger SPAC meme runner, but I believe the run will be short-lived.

IRNT was September’s most popular post-merger SPAC meme runner, and it collapsed over 75% from its high in the days that followed registration of its shares and warrants.

BKKT must register its shares for sale and warrants exercisable by November 14.

The warrants trade below their intrinsic value, foretelling a collapse in the stock price. But this collapse likely won’t as severe as other recent post-merger SPAC meme stocks.

I expect BKKT to sink to $20 by the end of November, if not sooner. That’s the price level for which long term investors should consider an entry.

Digitized Bitcoin Symbol

peterschreiber.media/iStock via Getty Images

Bakkt Holdings, Inc. (NYSE:BKKT) is the latest listing birthed out of a SPAC merger going on a meme stock run. I was in on the initial action on the long side but have since closed my substantial long position and bought put options. I actually still like the company in the long term, but in the short term I believe that this will be another case of history repeating itself. The same thing that happened to IronNet, Inc. (IRNT), Helbiz, Inc. (HLBZ), Offerpad Solutions Inc. (OPAD), AgileThought, Inc. (AGIL) and numerous other listings that went public through SPACs should happen here. The stock market meme gamblers simply do not care that the odds are strongly stacked against them as long as they have a minute-to-minute swing play.

 That plays in favor to those who are able to sell high or short this temporary pop.

I purchased put options because I believe that the stock price will fall rather quickly. Put options are expensive right now and could expire worthless if the stock price stays above the strike price at the expiry date. It’s hard to find borrows to short the stock and shorting is costly right now and puts a trader at risk of a short squeeze. So picking up a bearish position on BKKT is risky, but I believe will be a profitable move.

BKKT Valuation: $11 billion, not $2 billion for this prospective cryptocurrency play

The first thing that needs clarification is around BKKT’s market cap. Yahoo Finance currently shows a market cap of a little over $2 billion at Friday’s close of $42.52. This is based on 50 million shares outstanding which is incorrect. There actually will be 257 million shares outstanding with an additional 17 million warrants. Intercontinental Exchange, Inc. (ICE) owns Opco units that can be converted to approximately 175 million shares upon expiry of a six month holding period. So the float will always remain substantially smaller than its shares outstanding, but the true market cap as of Friday’s close is $11 billion, $11.7 billion fully diluted assuming cash exercise of all the warrants.

BKKT moved on cryptocurrency-related partnerships with Fiserv (FISV) and Mastercard (MA) along with a previous deal with Google and a rumor around Apple Pay. The early meme stock narrative around these deals was how can this company partner with these financial and technology giants and remain below a $1 billion market cap, which was the valuation below $20 and assuming 50 million shares. Had this narrative actually been accurate, it would have been a great long thesis. However, at an $11 billion market cap, signing several preliminary deals with minimal details surrounding the business model, timing of revenues or profitability of each deal seems over-extended.

BKKT has potential to be a game-changer for helping to get cryptocurrency into the mainstream, backed by the powers-that-be at the NYSE. That’s why in the longer term a speculative investor may wish to buy some stock. But in the short term, I expect BKKT to drop. Not just because of its over-extended and under-publicized $11 billion valuation, but because of near term headwinds expected post-merger.

Post-SPAC merger history and the coming addition to the float of $10 PIPE shares foretells of a crash in a month

I believe that an imminent crash on BKKT is likely when using IRNT as a template of things to come. IRNT listed from a SPAC merger and became a meme stock that started trading just a few weeks before BKKT:

IronNet price

Data by YCharts

IRNT started trading post-merger on August 26. By early September it was a meme darling trading millions of shares in a day. On September 16th, it topped out at $47.60 on nearly 60 million shares traded. Then came the collapse. On September 22, IRNT filed its S-1 to register its founder shares, PIPE shares priced at $10 and $11.50 strike warrants. The stock dropped 19% from $29.41 to $23.79 that day followed by a slight and temporary recovery. The SEC then deemed the registration effective on September 30, which was the final nail in the coffin for IRNT’s meme run. As market players braced for the imminent decline, the stock tanked from a $26.36 close on September 28 to $12.99 by October 4th. 

It took approximately 40 days from listing for the spike and crash to complete its cycle.

I use IRNT as a very recent example of a post-merger SPAC listing’s quick rise and fall that should be fresh in meme stock traders’ minds, but there are dozens of examples of this process and they all lead down the same path. Just like IRNT, BKKT must file a registration statement with the SEC for the resale of the $10 PIPE shares and $11.50 strike warrants within 30 days of the closing date:

That closing date was October 15. 

So the filing must be submitted by November 14 with the SEC approving the registration in the days that follow. Going by IRNT’s timing (as well as using HLBZ and OPAD as templates to increase the sample size), BKKT should see its rise and collapse complete by mid-to-late November. However, recall that IRNT started the fall that it would never recover from on September 17th, its 16th trading day, as investors knew what was coming. BKKT completed its 10th trading day on Friday.

While BKKT’s run could end at any time, that leaves realistically two to three weeks for meme stock players to gamble on the stock before the decline really accelerates. It’s like a roulette table at a casino. You know with certainty that the house is going to win and you will lose if you stick around long enough. But right now the gamblers are hitting and are too addicted to the profits to leave. It won’t end well for those who stay too long.

Warrant arbitrage tells me $20 is the near-term price target

Based on the history of many other listings that were a result of SPAC mergers, one could assume that BKKT will drop back to its initial $10 pricing. I’m actually BULLISH in the sense that I think it will stop the bleeding around $20 or in the high teens and that’s where I would consider another long position. Notwithstanding the business prospects that I actually like, there is another simple proxy I am using to estimate its bottom: the pricing of the warrants (BKKT.WS).

The warrants closed Friday at $17.67. 

They have an $11.50 strike price. Based on a $42.52 close, they have an intrinsic value of $31.02 and should be trading there if they could be exercised and the market could enact on the immediate arbitrage. Instead they are trading at a $13.35 discount because the market expects the stock to collapse by the time they can be exercised.

I have talked at length about post-merger SPAC warrant arbitrage trading opportunities.

 The most recent of which being on Helbiz. Read that article if you’re interested in that topic. For the purposes of this article, I’m more interested in what the price of the warrants actually means for the stock by the time the shares and warrants are registered.

BKKT, IRNT and HLBZ all share a commonality in that they each spiked over $40. 

They all have $11.50 strike price warrants. So the relative pricing of the warrants can tell us something about the impending collapse on the stock. When HLBZ ran to $40, its warrants topped out at approximately $2.50 (they actually hit their $2.95 52-week high as the stock collapsed post-registration, providing a marginal victory on the warrant long trade thesis). While the stock has dropped about 75% to sit around $10, the warrants have traded around $1.50. HLBZ’s stock price performance has been the weakest of the three.

When IRNT ran over $40, its warrants topped out at $11.90. The stock and warrants recently bottomed out at around $10 and $2 respectively, but have since recovered to sit at over $12 and over $4. Both securities collapsed around 75%. A poor performance to say the least, but still slightly better than HLBZ.

This leads me to BKKT and its warrants. 

The warrants are trading at a discount, but far less of a discount than when IRNT or HLBZ were trading over $40. This tells me that the market believes that BKKT will be more robust when it eventually collapses. Instead of tanking to $10 or $12, $15 to $20 might be the bottom. That’s a little over a 50% decline. The warrants would probably bottom out at $6 to $8, also a little over a 50% decline. I don’t see a scenario where the stock collapses to $10 and the warrants collapse to $2. There is too much market interest in the warrants to suggest that they will drop nearly 90% in a month.

Question: How can you predict with certainty that BKKT will tank?

Answer: Simple. The warrants are trading below their intrinsic value. Another way to look at it, the stock has negative implied volatility on its upside. The market is telling you with certainty that the stock WILL collapse by the time the warrants can be exercised. If the warrants were trading at $31.02 or higher to reflect their intrinsic value I would say that the stock is not guaranteed to collapse. Unfortunately for longs that’s not what we see here.

Why do I have a short position on BKKT but none on DWAC?

I recently wrote an article on Digital World Acquisition Corp. (DWAC) and its proposed merger with Trump Media & Technology Group. While I am bearish on the long term prospects of that stock, I do not and have no near term plans to open up a bearish position. Meanwhile, on BKKT, a stock that I actually like in the long term, I purchased put options.

Why? Simple. BKKT is trading post-merger. 

The registration of the shares and warrants is imminent and based on the history of similar listings, ensuring of an impending collapse. DWAC is trading pre-merger. There is no telling how long before (or technically, even if) DWAC and TMTG close the transaction. It requires a Special Meeting of DWAC shareholders to approve the transaction. This stock can trade at a very aggressive valuation for a long, long time based on its minimal current float. Just like the long side, going short on something like DWAC is pure coin flip gambling in the short term.

In contrast, opening a short position on BKKT banking on an imminent collapse is a thesis based on many proven examples of similar situations in which BKKT finds itself. I expect the stock to trade around $20 by the end of November and have made my bets accordingly.

Conclusion

After reading through all headers, you can find incredible deals to purchase BKKT coins and make huge returns on all of your investment. No matter if you’re an old or new user of cryptocurrency there are always cryptocurrency executives or websites who can help you.

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