Bitwise, the US-based fund provider, stated that Facebook’s Libra coin accelerated bitcoin progress very rapidly. The provider published on its site on August 1.
Matt Hougan, head of Bitwise, wrote a letter to the investors about bitcoin awareness. And also, the company stated the reasons behind to buy crypto assets.
Libra Leads Awareness On Bitcoin
Libra increased awareness of bitcoin development by three years forward. We have very much thankful to Facebook Libra coin and congress. The coin news leads to debates, discussions, and conversations on (cryptocurrency).
Facebook, the social media giant, has been developing Libra coin. As a result, so many people searched on Google about its details. This awareness started thinking over the cryptocurrencies.
Discussions On Regulatory Issues
The company states that, as a result of Libra development and the hearings in congress, people thinking about cryptocurrency. They no longer neglect the importance of cryptocurrency benefits. Still, the firm admits that not at all positives but also negative implications in the future.
Bitwise also states that now the governments are looking keenly over the crypto regulations. They are studying the possible taxations and governance on cryptocurrencies.
Still, crypto exchanges and initial coin offerings are not regulated until now. So the investors are still in dilemma on their investments. If the governments frame regulations, the investors will get assurance on their investments.
Because of crypto crazy, some fraud companies looted money from the people. And also, Ponzi schemes appeared as start-ups in the market. These schemes promised to people to give high returns in a short time. But at last, they disappeared with the people money.
Cryptocurrency is very much high-risk investment. Still, some uncertain things may lead to a negative impact on the crypto field. Because of the benefits of cryptocurrencies, it is time to look over the regulations and guidelines.
