Bitcoin to Surge Past $20,000? Facebook’s Libra Could Send BTC Flying

By many measures, Tuesday was the biggest day for Bitcoin (BTC) and crypto ever. As some quipped on what is affectionately known as “Crypto Twitter”, yesterday was a “turning point” for the entire industry. If you’ve been living under a rock, here’s a recap.

During the wee hours of Tuesday morning, Facebook, making good on months of rumors and speculation, unveiled Libra, the world’s first Silicon Valley-backed cryptocurrency. True to leaks published over recent months, the project was revealed to be a stablecoin, backed by a basket of assets that includes but isn’t limited to the United States Dollar.

What was also confirmed was that Libra, which quickly occupied the headlines of every mainstream media outlet — from Bloomberg to the New York Times — was backed by corporate giants Visa, Mastercard, Booking Holdings (Booking .com, Kayak, etc.), Uber, Spotify, Coinbase, and notable venture capitalists.

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