Bitwise: Facebook’s Libra Moved Bitcoin and Cryptocurrencies Ahead by Three Years

A cryptocurrency index fund provider Bitwise based in the US is of the opinion that the Facebook-owned stablecoin Libra has accelerated the growth of cryptocurrencies by three years. This was stated in a letter published to investors on August 1.

The attention given to Bitcoin by Libra

Libra, which has been gaining substantial attention since it's the first announcement has gained different reactions around various sectors of the world, particularly the political and the fintech sphere.

Bitwise’s global head of research Matt Hougan, issued a statement on behalf of the company.

“Thanks to Facebook’s Libra and Congress, we have just fast-forwarded two or three years into crypto’s future, accelerating all the conversations, debates, and mainstream discussions into the present day.”

The firm had also noted that it expects the government to beef up regulations in shady areas that are being exploited by fraudsters.

Image credit to Bitwise