Facebook Libra Interest Spikes, Pushing The Bitcoin Price On

Story by: Billy Bambrough

Facebook Libra, a potential rival to bitcoin, has reportedly secured backing from the likes of ride-hailing app Uber, music streaming service Spotify, and payments giant Visa. While Facebook Libra, which has also been linked to the name GlobalCoin, might compete directly with bitcoin and other major cryptocurrencies, many have taken it as an endorsement of bitcoin’s core technology and value.

Elsewhere, Facebook’s social media rival Twitter is looking to bitcoin itself as the potential “future of internet money,” with chief executive Jack Dorsey last week reiterating his faith in bitcoin and beginning to make cryptocurrency hires at his payments company Square.

Facebook’s bitcoin rival will likely be a so-called stablecoin, pegged to the U.S. dollar and other major currencies, and is expected to be integrated as a payment tool on Facebook’s popular messaging apps WhatsApp and Messenger, and photo-sharing app Instagram.

Original story: https://tinyurl.com/y47l8vw2


Facebooktwittergoogle_plusredditmailby feather

Leave a Reply