BitMEX CEO: Once Libra is released, it will destroy commercial banks and central banks

This week, a report released by stock research platform Seeking Alpha said that Facebook's new cryptocurrency project can indeed promote the development of bitcoin (BTC).

Libra-4283995_1280

Image source: pixabay

By leveraging the existing theory of Libra, the social media giant of Facebook, this simple report suggests that mainstream consumer propaganda will eventually flow into Bitcoin.

This kind of attention will only help Bitcoin's price and its overall acceptance reach new heights, especially in the face of global market uncertainty.

Ryan Waldoch, author of the report, concludes:

“I believe that Libra will make users more inclined to use Bitcoin as a point-to-point payment system, and uncertainty in the global market is prompting investors to inject bitcoin as a means of value storage.”

Just the day before he made the above remarks, Arthur Hayes, chief executive of Bitcoin derivatives giant BitMEX, made a bolder statement.

This week, Hayes will have a head-on confrontation with the infamous bitcoin opponent and economist Nouriel Roubini. In an interview with Bloomberg, Hayes said that once Libra is issued as a token, he has only one prediction for Libra.

“I think this will destroy commercial banks and central banks,” he said.

According to Cointelegraph, Libra has received considerable criticism since Facebook released its white paper last month. The focus of attention is on its technical characteristics and data security, and the government may try to completely ban it. US lawmakers have asked Facebook to stop the development of Libra coins until the conversation is held.

We will continue to update Blocking; if you have any questions or suggestions, please contact us!

Share:

Was this article helpful?

93 out of 132 found this helpful

Discover more

Market

Fortune Magazine From ambitious to defensive, what twists and turns has the crypto queen Katie Haun experienced?

Cryptocurrencies may experience cyclical fluctuations, but this time the trough is much steeper than investors expect...

Blockchain

Swiss exchange SIX announces investment in cryptocurrency trading platform Omniex, exact amount not disclosed

According to a report by Finance Magnates on February 25, SIX Group, an operator of the Swiss Stock Exchange, announc...

Blockchain

Featured | Messari Founder: Recent Frustrations and Hopes in the Industry; Innovations in the Bitcoin Technology Stack

Today's content includes: 1. Founder of Messari: the recent frustration and hope of the industry; 2.Innovation i...

Opinion

SBF Trial Records Fully Exposed Blame-shifting, Amnesia, Contradictions

Today is the real highlight, as the prosecution lawyer will conduct a half-day long cross-examination of SBF after th...

Blockchain

FTX shatters Taylor Swift's crypto dream, $100 million collaboration also falls through.

FTX shatters Taylor Swift's Crypto dream, $100 million collaboration falls through. Blocking, former founder SBF is n...

Market

Dialogue with Circle CEO How can USDC recover the market lost due to SVB's bankruptcy?

In this interview, Laura Shin and Jeremy Allaire discussed various topics including Coinbase's investment in Circle, ...