Since reaching the maximum, about $10 billion has been lost.
Market Shares of Virtual Assets Since achieving an all-time high in October, Bakkt Holdings Inc. has dropped to an all-time low, slashing its market price by approximately $10 billion.
Bakkt’s stock has been slowly declining as deficits and market turbulence prompted investors to look refuge, and the market value of the company dipped below $1 billion for the first time this week.
Partnership with fintech giant Fiser and Mastercard
“While we cannot comment on the stock, we have adequate money to pursue the long-term plan that we disclosed in our fourth-quarter results release — expanding in companies to attract more partners and develop our goods and skills,” Lauren added. Email from a Bakkt salesperson.
Bakkt gained traction in early October when it confirmed a relationship with financial behemoth Fiserv Inc. and payment processor Mastercard Inc. to expand its cryptocurrency-related services and products, as well as a connection with Starbucks Apple Pay.
Bakkt, on the other hand, had a greater net loss in the third quarter of last year, owing to higher customer acquisition expenditures and future partners.