Bakkt's parent firm ICE attempted eBay takeover

Intercontinental Exchange, a company that created Bakkt, recently attempted a takeover of a popular e-commerce platform, eBay. However, the talks had recently stopped, and neither of the two corporations hinted at when or even whether or not they are going to continue.

The announcement that the talks have ended, at least for the time being, came from ICE itself after the Wall Street Journal originally reported that the companies are negotiating in the first place. However, as Morgan Creek partner, Anthony Pompliano recently noted, the talks could have tremendous consequences.

According to Pompliano’s recent tweet, ICE was insightful enough to realize the importance of Bitcoin early enough that it started Bakkt. If a company like that were to get eBay, that would mean that the New York Stock Exchange, Bakkt, and eBay would all be under one roof.

Bitcoin as a payment method on eBay

As many likely remember, ICE became a major player in the crypto industry when it launched Bakkt — the investment firm targeting institutions, which offers various crypto products such as Bitcoin options and futures.

Bakkt has had a slow start once it finally launched, but the company managed to pick up the pace over time, and during the first week of February 2020, it saw major growth in investors’ interest in BTC. According to reports, interest in BTC surged by 114%, and the coin’s price itself has recently been on the rise.

Now, in light of ICE’s recent attempt, the question on everyone’s mind is whether or not its potential eBay takeover would mean that BTC might become a payment method for the eCommerce platform? There is currently no definitive answer, but many have pointed out that eCommerce would be an ideal use case for digital currencies.

Crypto payments would reduce transaction fees, entice sellers by allowing them access to an asset whose price is expected to keep going up as the adoption spread, and even increase security. But, since the talks have stopped, for the time being, the answer will likely remain unknown until the two continue their negotiations, which itself may or may not happen.