Bitcoin skyrocketing has nothing to do with Libra

Bitcoin’s rise to 11,000 wasn’t all due to Facebook’s Libra

Bart Smith, Susquehanna International Group head of digital assets, joins ‘Squawk Box’ to discuss how Facebook’s digital token Libra is changing the game for bitcoin.

Bitcoin’s rise to 11,000 wasn’t all due to Facebook’s Libra, says Susquehanna’s digital assets head from CNBC.

Bitcoin surpassed $11,000 per coin on Saturday morning. The cryptocurrency’s value has stayed around that $11,000 mark in the hours since, according to the Bitcoin Price Index from Coindesk. But the credit of the recent rise is to be given to Bitcoin and Bitcoin believers not Facebook’s Libra.

It’s hard to attribute the cryptocurrency’s value to anything in particular but many have attributed it at least partly to the Libra cryptocurrency Facebook announced on June 18. But is it really even a factor? All the accumulation and adoption had started way back before the Libra announcement. And the Bakkt is gonna jump start next month and all the good news and updated from the conferences. Bitcoin and Libra don’t have a direct relationship, but pun intended when we say that the cryptocurrencies are in many ways two sides of the same coin.

Read more here:

Bitcoin’s Skyrocketing and Passed $11,000, Anything to do with Libra at all?

BTC VS LIBRA | Bitcoin is digital gold & store of value | BUT Facebook’s Libra is just digital dollar & not really decentralized 

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Mohsen Daemi
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