Bakkt Holdings (NYSE: BKKT), the New York-headquartered firm that builds tech solutions to help companies join the crypto industry, announced the appointment of Mike Alfred to its board of directors on Sep. 22.
Founded in 2018, the firm offers custody, trading, and onramp solutions to crypto companies. Alfred’s appointment positions the firm to capitalize on the generational transformation in global financial infrastructure, the statement read.
Related: What is Crypto? Cryptocurrency explained
Alfred is the founder and managing partner of Alpine Fox, a private investment partnership focused on value equities and Bitcoin. He has also been serving on the board of directors of the Bitcoin mining firm IREN Limited (Nasdaq: IREN) since October 2021. He has also been an investor and a board member at other crypto-focused firms.
Bakkt CEO Akshay Naheta said, “Mike’s proven track record and reputation in the digital asset and fintech ecosystem brings unparalleled expertise, a powerful network and institutional credibility. His perspectives will be critical as we execute with precision on our strategy and deliver long-term value for our shareholders.”
Alfred said, “Bakkt has a unique opportunity to deliver a trusted fintech platform for institutions in four transformative trends over the next decade: digital asset trading, stablecoin payments, AI agents and Bitcoin. I look forward to partnering with the Board and leadership to advance Bakkt’s strategy and value creation.”
The BKKT stock, which closed at $10.44 on Sep. 19, rose as high as $15.88 following Alfred’s appointment on Sep. 22 — a jump of more than 50%.
The stock was exchanging hands at $14.41 at the time of writing.
