As we’ve all seen over the past month or two, bitcoin has completely revamped itself and is now trading for well above the $10,000 range. Many people attribute this spike to many things, but one individual believes hype surrounding Libra has a lot to do with bitcoin’s recent good fortune.
Libra Could Be Behind Bitcoin’s Sudden Surge
To be completely fair, it’s not necessarily Libra itself, but rather words regarding Libra that have led to bitcoin’s growth. Vijay Ayyar – head of business development at the popular crypto trading platform Luno – points to recent verbiage from Federal Reserve Chair Jerome Powell that hinted at the stamina and properties of cryptocurrencies.
Particularly, Powell refers to Libra as a “wake-up call” that the United States is not where it needs to be when it comes to crypto regulation. He also says that a national digital currency should (and could) come “fairly quickly,” and that working on such a project would do wonders for the infrastructure of the United States.
Libra has been controversial since the day it was first announced in June of 2019. While many regulators are unsure of what to make of it, they’ve all expressed skepticism that a financial project of this breadth and scope is potentially being released by a company – Facebook – that has been wrought with scandal and other problems for so long. Read More...