I have been watching Bitcoin and the cryptocurrency market for years now, and so far it has been a bumpy ride. It
s not mainstream yet and it seems like Bitcoin is just for traders, and not a currency people around the world use to buy things with. But Facebooks Libra can be a gamechanger.
Mark Zuckerberg and his team is expected to provide details about its brand new cryptocurrency called Libra in a white paper set for release on Tuesday. Only a few trade with Bitcoin, but what do you think will happen if nearly 3 billion users on Facebook start to trade with Libra?
Facebook has partnered with companies like Visa, Paypal and Uber to name a few. They have all invested in the cryptocurrency and will help to oversee its use. Libra will be tied to several traditional fiat currencies in a bid to protect Libra from price volatility.
Bitcoin and the comming cryptocurrency Libra is not alone in the market. There are hundreds of other cryptocurrensies out there and there is more to come. What do you think will happen when Google and Amazon is joining the club?
Barclays analyst Ross Sandler predicted earlier this year that the digital currency could produce as much as $19 billion in new revenue in just two year for Facebook alone. It will be one of the most important milestones for Facebook in the history of the company.
Facebook can really help countries in need. Facebook`s Libra can provide a more stable market in areas with volatile currencies and unstable governments. It can be helpful for countries like Venezuela and other countries with ridiculous inflation.
Mark Zuckerberg`s brand new cryptocurrency platform could provide the embattled social media giant with a new revenue stream of historic proportions as it contends with a possible fedral antitrust probe and continued scrutiny over its data privacy practices.
Facebook`s long-awaited cryptocurrency payments plan will be exposed on Tuesday and analysts are bullish. This is a big and historic moment for Facebook and the world.
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