August 3, 2022, ST. PETERSBURG, FL – Water Tower Research ( has published an Initiation of Coverage Report on Bakkt Holdings Inc. (NYSE: BKKT) titled, “Connecting the Digital Economy with Major Partners Signed and Strong Revenue Growth Momentum”. The report can be accessed here.

Bakkt was formed in 2018, with a vision to connect the digital economy. Its platform operates at the intersection of cryptocurrency (“crypto”), loyalty and rewards and payments. It is uniquely positioned to enable consumers, brands, and financial institutions to better manage, transact with, and monetize those assets in exciting new ways.

Bakkt’s institutional-grade technology platform is at the core of everything it does. It has thoughtfully built a unique and powerful platform, melding together institutional-grade loyalty services to complement its institutional-grade crypto capabilities.

The Bakkt platform provides end-to-end services for its partners, which includes easily digestible technology services, 24/7 customer support, and marketing playbooks. Bakkt’s customers include consumers, businesses, and institutions.

Bakkt’s comparables include digital wallet and crypto companies, and other deSPACs. The comps have a median forward P/S that ranges from 0.7x for de-SPACs to 2.3x for crypto, while BKKT is trading at 2.7x.

Please join us for a conversation with Bakkt CEO Gavin Michael on Tuesday, August 16, 2022, at 11 am EDT. Register for the event here.

About Water Tower Research

Water Tower Research is an investor engagement and stakeholder communication platform powered by Wall Street veterans with significant experience and credibility. We create, deliver, and maintain the information flow required to build and preserve relationships between companies and all their stakeholders and investors. “Research for the other 99%” opens the door for every investor to stay informed and ensures transparency, better engagement, and equal communication.

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