Bakkt did what it’s designed to do, allow for those people to hedge their bets! Yes it’s market manipulation we can see that, this asset class is small enough to allow for major price moves

But it’s not the only one that’s being manipulated we see it with silver for years too! Doesn’t make it right though

What I will say is that yes it’s a game do whales but BTC won’t scale without their investment! If it was only off the backs of retail investment the valuation would be much smaller!

The capital the pump in at certain times allows blockchain based businesses to extract a premium to keep going and fund their projects

It’s a long play and big banks are starting to take note so expect some more crazy moves