Brian Kelly, Founder of BK Capital Management, has stated that popular coffee café chain Starbuck’s getting in on cryptocurrency is ‘the biggest news of the year and will pave for a brighter future for bitcoin and the remaining cryptocurrency market.
The latest partnership between Starbucks, Microsoft and Intercontinental Exchange (ICE) to launch the cryptocurrency company Bakkt, is a positive move as it brings about cryptocurrencies being used practically. The announcement brushes away critics who find cryptocurrencies impractical.
With companies such as Microsoft getting in the mix, by using Microsoft cloud it will lead to Bitcoin ETF being more of a possibility than ever according to Brian Kelly who spoke on CNBC’s popular show ‘Fast Money.’
Since the end of 2017, cryptocurrencies have struggled to find a place in 2018. However, this news according to Kelly will help Bitcoin break through to become a mainstream global currency.
Starbucks and Microsoft getting into cryptocurrencies are good enough, but with ICE’s participation, Bitcoin ETF’s are a 100% more likely so that it can be traded on stock exchanges.
They’re talking about getting this into your 401(K). They’re talking about in your…. Fidelity or TD Ameritrade account, you’re going to be able to buy a bitcoin ETF, a bitcoin mutual fund. It expands the universe
My conclusion is the crypto market is completely missing this. Perhaps the market in general is missing this. This is very, very big news
Brian Kelly has plenty of experience in the investment field from being the Co-Founder of Shelter Harbor Capital LLC to being the co-founder of MKM Partners which catered to institutional investment managers. He has since shifted towards cryptocurrencies and is the founder of BK Capital Management which focuses solely on digital currencies. He has even written the book “The Bitcoin Big Bang – How Alternative Currencies Are About to Change the World.”
CNBC’s Fast Money tweeted the excitement by Brian Kelly on its show-
— CNBC's Fast Money (@CNBCFastMoney) August 3, 2018