Bakkt Shares Gained 200 Percent

Bakkt shares gained 200 percent. Cryptocurrency company Bakkt started trading on the stock market.

The shares of the cryptocurrency company Bakkt, which started trading on the New York Stock Exchange last week, increased by about 200 percent on Monday to $ 31.57. The company closed at $ 9.15 on Friday. The rise in Bakkt shares came especially after the announcement of the partnership with payment giant Mastercard. According to the statement, Bakkt will enable banks and businesses using Mastercard's systems to provide cryptocurrency services. Bakkt CEO Gavin Michael stated that the deal is not only limited to wallets and credit cards, but will also allow customers to earn points with Bitcoin after spending at businesses and restaurants. With the rise, Bakkt's market value has exceeded 4 billion dollars. The company was listed on the NYSE on Monday, October 18, through a SPAC deal valued at $2.1 billion. Bakkt signed a partnership with the famous US chain restaurant Quiznos in the past months, allowing customers to purchase meals with Bitcoin as part of this partnership. In addition, the company recently entered into a partnership with tech giant Google. With the agreement, Google Pay started to support Bakkt's Visa cards.