Buying assets for Bakkt at a discounted price, ICE heads bluntly enjoy the cryptocurrency winter

The head of the Intercontinental Exchange (ICE) said on Thursday that the price of the cryptocurrency (compared to the previous two years) fell at the right time because the exchange operator was able to use its "discount price" as its cryptocurrency trading platform subsidiary Bakkt. Purchase assets.


After the release of the first quarter earnings report, ICE CEO Jeffrey Sprecher held a conference call with the analyst, saying:

The cryptocurrency industry has entered the winter of the industry, which is really helpful.

This puts a little less pressure on (Bakkt) on-line arrangements.

Bakkt's preparations have been going on for two years, and ICE, which owns the New York Stock Exchange (NYSE), has long announced plans to set up the new company. However, Bakkt faces regulatory delays and has yet to determine the launch date. Bakkt's target customer is an institutional investor and is related to the physical bitcoin futures contract that ICE intends to launch on the US Futures Exchange.

At the end of 2017, bitcoin prices soared to nearly $20,000, sparking interest in Bitcoin and other cryptocurrencies, and a number of new companies focused on cryptocurrencies also rose. But last year, bitcoin prices plunged by three-quarters and entered the "winter", and institutional investors were basically in trouble.

Sprecher said that during this period of calm, the company has been recruiting talent and shaping Bakkt through acquisitions.

We have actually investigated a number of different companies and acquired one of them earlier this week.

ICE said on Monday that it has acquired cryptocurrency company Digital Asset Custody, and the specific transaction amount has not been disclosed.

It can be seen that despite the poor market performance, Sprecher is still very optimistic about the future of virtual currency. He said in November last year:

The answer is yes (the cryptocurrency will continue to exist)… Bitcoin seems to have lived in the swamp and survived. You can say that there are thousands of tokens that beat Bitcoin, but Bitcoin continues to survive, prosper and attract attention.