[ad_1]
Bitwise, a US supplier of cryptocurrency index funds, said Facebook's balance of scale was accelerating Bitcoin's (BTC) progress by three years in a letter to investors published in its website on Aug. 1.
Libra drew attention to Bitcoin
In the letter, Matt Hougan, Global Head of Research at Bitwise, said on behalf of the company:
"Thanks to Facebook's Balance and Congress, we've just moved two or three years into the future of cryptography, speeding up all conversations, debates, and public discussions to the present day."
Increased regulatory control
The company says that, following the development of Libra and hearings on crypto with Congress, "people are realizing that they can no longer ignore cryptocurrency". Nevertheless, Bitwise admits that any attention devoted to crypto may not be positive and that regulators focusing on crypto may have negative ramifications in the future.
The company also said that it expects the government to tighten regulation on the most obscure sectors of the cryptocurrency industry, such as initial coin offerings. and unregulated trade, now that it focuses on crypto. Bitwise concludes:
"But even this review and attention will be good for crypto in the long run. This will give investors confidence that regulators are involved and will clarify the guidelines under which the mature version of cryptography can evolve. "
As Cointelegraph reported late last month, Facebook warned its investors that its Balance stablecoin could never be released.
[ad_2]
Source link
