Shares of Bakkt Holdings Inc. (NYSE:BKKT) rose in Thursday’s trading after the cryptocurrency custody company announced plans to raise as much as $1 billion, with proceeds potentially getting allocated to buy Bitcoin (CRYPTO: BTC).
What Happened: The possible shelf offering might include sales of Bakkt’s Class A common stock, preferred stock, warrants, and debt securities, according to an SEC filing. The funds are expected to be used for working capital and general corporate purposes, with a portion potentially allocated to Bitcoin.
Bakkt announced an updated investment policy …