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twitter.com/SBF_FTX/status honestly this is pretty wild, I'd love to talk to the people who aren't redeeming the SPAC and ask them what a bitcoin is and see if they could, you know, answer it. though joke might be on me, maybe it'll go up a lot, who knows, sometimes number go up
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Bakkt ($2B mkt cap $VIH / $BKKT) goes 70-90% lower in coming months. A faceplant, a SPAC-tastrophe In January, Bakkt guided to $900 million FY21 sales. It's October now, and there's abundant evidence suggesting they miss by 90%. This becomes clear to everyone at 3Q21 earnings.
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So, onboarded 30+ institutions (crypto cos, sports teams, tokens, finance cos, pension funds, resorts, etc) and 100+ leading brands (Nike, CVS, Panera, etc) Valuation is a small fraction of Bakkt, spend is single digit % of Bakkt. 300K users, access to millions.
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