In recent times, Facebook has announced a new cryptocurrency Named Libra which may bring a good reference for the favour of Bitcoin but a group of experts says that the traditional bank will face some critical situation in the near future.
Basically, they are assuming based on existing theories about the social media giant’s Libra protocol, the brief report showed that publicity from mainstream consumers will ultimately flow into bitcoin. It’s true that when people intend to this Libra platform, in the meantime, Bitcoin price also get a boost because of the acceptance of another cryptocurrency.
“I believe that Libra will allow users to be more inclined to use bitcoin as a peer-to-peer payment system while the uncertainties of the global markets are having investors flock into bitcoin as a store of value,” author Ryan Waldoch summarized.
This statement basically came a day before even bolder statements from Arthur Hayes, CEO of bitcoin derivatives giant BitMEX. When Speaking to Bloomberg, “I think it will destroy commercial and central banks,” he said.
You have to consider that people are getting in touch with cryptocurrency platform day by day around the world, so Libra will surely accelerate this pace of the popularity among the other people, this will bring an authentication regarding of this platform in the future.