you have good points here specially about bitcoin should be treated as a currency and the fact that it can bring in more investors. but i disagree with saying this recent rise was because of this news. the recent rise was not exactly a rise, it was some sort of reverse correction (recovery) that price came back from the unrealistically lower price that it went to for a short time.

as for Bakkt itself i think it is more hyped up than it really is. this is exactly like ETFs and Futures trading. both were super hyped up in 2017 when they initially began, ETFs kept being rejected so were forgotten, Futures trading went through and it didn't change anything other than in some cases increase the volatility.