Why Is Bakkt Holdings Stock Surging Monday? – Bakkt Hldgs (NYSE:BKKT)

Bakkt Holdings Inc. BKKT shares rose after the company announced the appointment of fintech entrepreneur Mike Alfred to its board of directors as it looks to strengthen governance and position itself for growth in digital assets and financial technology.

Chief Executive Officer Akshay Naheta said Alfred’s experience and credibility in the fintech and digital asset sectors would be key to advancing Bakkt’s strategy. He called Alfred’s addition a major step toward building next-generation financial infrastructure.

Alfred co-founded BrightScope, which was acquired by Strategic Insight, and Digital Assets Data, which was later acquired by NYDIG. He now leads Alpine Fox LP, a private investment fund focused on Bitcoin and AI-related equities.

Also Read: What’s Next For Bakkt? Investor Panic, Legal Trouble, And An Uncertain Future

He also serves on the board of IREN IREN, a developer of data centers supporting Bitcoin BTC/USD and AI operations, as well as other fintech and advisory firms.

Alfred said Bakkt has an opportunity to serve institutions in four key areas: digital asset trading, stablecoin payments, AI-powered finance, and Bitcoin adoption. He said he is eager to work with leadership to help deliver long-term value.

Alfred’s presence at IREN ties into recent investor attention. Shares of the data center operator climbed after announcing growth initiatives, with investors noting IREN stock is surging on new developments.

The appointment signals Bakkt’s focus on aligning with industry leaders as it competes in an evolving fintech landscape. The company said Alfred’s addition will help it deliver on its long-term strategy to provide institutions with trusted digital platforms.

Price Action: BKKT shares were trading higher by 24.65% to $13.00 at last check Monday.

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