Bakkt’s Bold Bitcoin Move: Will Alfred’s Reputation Shift the Balance?

Bakkt Holdings saw its shares leap by more than 40% on September 22, 2025, after the company named Michal Alfred—a well-known crypto investor and fintech leader—to its board. The stock closed at $14.70, exceeding Wall Street’s average 12-month price forecast of $13.26 Bakkt Stock Spikes Past Analysts' Price Target After Adding … [ 1 ]. This development is widely viewed as a move to enhance corporate governance and speed up expansion in digital asset infrastructure, with CEO Akshay Naheta pointing to Alfred’s “established expertise and reputation” as essential for realizing Bakkt’s objectives Bakkt stock jumps over 40% after naming crypto vet Mike Alfred to … [ 2 ].

Alfred, who co-founded Digital Assets Data (later acquired by NYDIG in 2020) and serves as managing partner at Alpine Fox LP, brings deep experience in

and stocks related to artificial intelligence. He is also a board member at IREN, a firm specializing in data centers for both Bitcoin and AI sectors. In his remarks, Alfred expressed confidence in Bakkt’s ability to lead in four core areas: digital asset trading, stablecoin transactions, AI-powered financial solutions, and greater Bitcoin integration Bakkt Adds Fintech Veteran Mike Alfred To Board, Stock Jumps [ 3 ]. His selection follows Bakkt’s recent sale of its loyalty rewards branch for $11 million, allowing the company to concentrate on mainline crypto services like asset custody and tokenization Bakkt Stock Spikes Past Analysts' Price Target After Adding … [ 1 ].

The company’s reorganization has produced mixed outcomes. While crypto-related earnings in the second quarter of 2025 hit $568 million, the loyalty business contributed a modest $10 million Bakkt Stock Spikes Past Analysts' Price Target After Adding … [ 1 ].

is also planning to secure as much as $1 billion through stock and bond offerings, aiming to diversify its corporate treasury with Bitcoin. This follows a June policy update allowing Bitcoin and other digital assets as part of its treasury assets Bakkt Stock Spikes Past Analysts' Price Target After Adding … [ 1 ]. Analysts from Benchmark Company, launching coverage with a “buy” and a $13 target, said that the asset sales and strategic appointments like Alfred’s indicate a “new chapter” for Bakkt after years of operational headwinds Bakkt Stock Spikes Past Analysts' Price Target After Adding … [ 1 ].

Bakkt’s recent stock rally shows renewed investor confidence in its sharper strategy. This surge comes despite a 40% decline in the share price since the start of the year and a staggering 94% fall from its 2021 high. During the session, the stock briefly touched $14.95 Bakkt stock jumps over 40% after naming crypto vet Mike Alfred to … [ 2 ]. Alfred’s impact is likely to go beyond boardroom decisions, as his involvement with Alpine Fox LP and IREN suggests possible innovation at the intersection of AI and Bitcoin infrastructure Bakkt Adds Fintech Veteran Mike Alfred To Board, Stock Jumps [ 3 ].

The market’s response highlights rising interest from institutions in holding Bitcoin reserves. Bakkt’s fundraising strategy mirrors a broader movement among companies and governments to include Bitcoin as part of their reserves. Notably, firms like MicroStrategy and the government of El Salvador have added Bitcoin to their treasuries, reflecting its growing use as protection against inflation and currency swings ETH Vs BTC: which is the best crypto to buy for 2025 as treasury ... [ 5 ]. Experts at Invezz and BlockchainReporter point out that Bitcoin’s perceived value as a store of wealth differs from Ethereum’s utility-driven growth, yet both face unique opportunities and risks looking into 2025 ETH Vs BTC: which is the best crypto to buy for 2025 as treasury ... [ 5 ].

Bakkt’s strategic realignment has been met with cautious optimism. Although its crypto-centered approach has not yet resulted in long-term profitability, partnerships with institutional clients and developments in AI infrastructure could place Bakkt at the forefront of a changing fintech landscape. Alfred’s addition to the board, together with the expansion of its treasury, points to Bakkt’s long-term commitment to Bitcoin adoption and the digital transformation of financial services.