Crypto platform Bakkt Holdings has filed for a mixed public offering of securities worth $1 billion, pointing to possible Bitcoin acquisitions as part of its treasury strategy.
The application, filed Thursday with the SEC, allows Bakkt to issue common stock, preferred stock, debt securities, or warrants, giving it flexibility to raise capital when market conditions are favorable.
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The company, backed by Intercontinental Exchange (the parent company of the NYSE), recently updated its investment policy to include Bitcoin and other digital assets.
Although no purchases have been made yet, Bakkt has stated that it could use excess cash or proceeds from financing to buy cryptocurrencies.