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Investing.com – Cryptocurrency and other major currency prices fell on Thursday in Asia after US Federal Reserve Jerome Powell said Facebook Inc (The digital motto proposed by the NASDAQ :). Libra has caused "serious concern" and will require careful consideration.
Bitcoin plunged 12.3% to 11,540.2 USD around 12:18 (4:18 GMT). fell 13.1% to $ 275.07, while lost 17.8% to $ 101,212.
sank 15.9% to 0.33990.
In an address to Congress, the Fed Chairman said that Facebook's proposal raised "serious concerns about privacy, money laundering, consumer protection and financial stability ".
Powell added that the central bank does not intend to discourage financial innovation. "We just want it to be healthy and safe," he said.
Maxine Waters, chair of the US House committee, said earlier that Facebook may be looking to "establish a parallel system of banking and monetary policy to rival the dollar."
Bitcoin prices peaked at $ 13,200 earlier in the day and recorded five consecutive days of rebounding before Powell's comments, just $ 700 less than the peak reached in 2019.
Bitcoin price gains earlier this month were mostly driven by institutional investors, particularly hedge funds, badysts said.
"From my experience, macro managers and wealthy individuals are focused almost entirely on bitcoin," said Thomas Lee of Fundstrat Global Advisors.
Fortune announced Wednesday that Visa (NYSE 🙂 has invested millions of dollars in Anchorage, a startup that secures digital currency holdings for institutional investors.
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