Analysis: Libra benefits Bitcoin but may "destroy" the bank

According to a recent report by stock trading platform Seeking Alpha, Facebook's cryptocurrency Libra is good for bitcoin, which can increase the price of Bitcoin and its overall acceptance, especially if the global market is uncertain. The report's author, Ryan Waldoch, concluded that Libra will allow users to use bitcoin as a point-to-point payment system, and global market uncertainty has led investors to use bitcoin as a means of value storage. BitMEX CEO Arthur Hayes also said that Libra might "destroy" commercial banks and central banks.