• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
No Result
View All Result
Breaking News: Dogecoin (DOGE) Soars 8%, But An Uptick In This Metric Suggests A Pullback
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: Dogecoin (DOGE) Soars 8%, But An Uptick In This Metric Suggests A Pullback
Bitcoin Facebook Libra

Long-Held Bitcoin Critic is Bearish on Facebook’s Libra, But Flips Bullish on BTC

Cole Petersen by Cole Petersen
4 years ago
in Bitcoin, Cryptocurrency news
Reading Time: 2 mins read
Advertisement

The world has been entrenched in a deluge of news surrounding Facebook’s recently announced cryptocurrency initiative, dubbed Libra, which was been met with a wide variety of responses from Bitcoin advocates and analysts alike, ranging from positivity and excitement to extreme negativity.

Despite the significant amount of information now available about Libra, analysts are still split on whether or not it is a positive thing, as some crypto believers are critical of it being predicated on a centralized entity, while traditional analysts are noting that it is a bullish initiative that could provide Facebook’s e-commerce initiatives a major boost.

Joe Kernen: Facebook’s Libra is Just Currency for Corporations, Bitcoin is Currency for the People 

Joe Kernen – one of the hosts of CNBC’s popular show Squawk Box – has long been skeptical of Bitcoin and cryptocurrencies in general, but the recent news surrounding Facebook’s Libra initiative may have been enough to flip his biases – turning him into a Bitcoin evangelist.

Get 30 FREE SPINS at Punt Casino - NO DEPOSIT REQUIRED! Start Playing Now.
No Deposit 40 FREE SPINS at Wild.io on SIGN UP. Wheel of fortune, daily bonuses, 10 BTC in prizes monthly! Start Playing Now!

Earlier this week, Kernen expressed skepticism for Libra during the show, criticizing the fact that it is not blockchain-based, saying:

“Cryptocurrencies get their value from the blockchain… Are they calling it a cryptocurrency? Well it’s not.”

As @JoeSquawk suddenly becomes a bitcoin believer (maybe), $BTC makes a run at $10k. Coincidence? https://t.co/P9bzQ9Ltvk

— Squawk Box (@SquawkCNBC) June 21, 2019

Now, Kernen has doubled down on this sentiment, noting in today’s episode of Squawk Box that Libra is not a currency for the people, while Bitcoin is.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

“Libra is currency for corporations. Only Bitcoin is currency for the people, for the people themselves… I’m feeling like a [Bitcoin] evangelist almost,” he explained, further questioning Libra by asking “who put Facebook in charge of giving currency to the rest of the world.”

"Libra is currency for corporations. Only Bitcoin is currency for the people" – @JoeSquawk "I'm feeling like an evangelist, almost!" pic.twitter.com/U9tpOQTamk

— Squawk Box (@SquawkCNBC) June 24, 2019

This is a very reasonable criticism of Libra, as Facebook’s massive privacy and data violations in recent history have certainly tarnished their trust in the eyes of the world, so it is unclear as to whether or not their promises of protecting Libra user’s private data will be enough to convince people to actually use it.

Despite Criticisms, Wall Street Analysts Are Still Bullish on Libra

Although there are justified concerns surrounding Libra, analysts at major Wall Street institutions are still bullish on the digital currency.

Analysts at SunTrust spoke about Facebook’s crypto initiative, noting that it could help significantly expand Facebook’s business model.

“We believe this is a major initiative for Facebook, and one that has the potential of putting the company front and center in areas beyond advertising… It positions the company as one of the key actors at the center of the crypto currency development, and a main architect of the future of this emerging and important trend,” they recently explained.

Despite this, Libra will only help benefit Facebook if users actually take to it, and the plethora of other, more decentralized, cryptocurrencies will likely pose stiff competition.

Featured image from Shutterstock.
Tags: bitcoinbtcfacebooklibra
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Cole Petersen

Cole Petersen

Cole is a cryptocurrency analyst based in Los Angeles. He studied at the University of California Irvine and has been interested in Bitcoin and the crypto markets since 2013.

Related Posts

Ripple XRP

XRP Bulls Try To Break Consolidation At $0.4 To Conquer New Levels

9 hours ago
Cardano (ADA)

Cardano Adds 50,000 New Wallets As ADA Market Cap Surges

13 hours ago
ethereum

Ethereum Hovers Above $1,600, What’s The Next Move?

15 hours ago
Litecoin Whale Transactions Set New 2023 High, Bullish Signal?

Litecoin Whale Transactions Set New 2023 High, Bullish Signal?

16 hours ago
Polkadot

Polkadot Hints At Price Recovery – Can DOT Go Past 15% Weekly Ceiling?

17 hours ago
cardano

Cardano (ADA) Continues To Shine With 15% Gains In the Last Week

17 hours ago

Premium Partners

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
Metaspins

Metaspins

Review · Visit
Coinplay

Coinplay

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
Vave

Vave

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
Coinplay

Coinplay

Review · Visit

Binance Coin (BNB) And Orbeon Protocol (ORBN) Speculated To Make Huge Gains In 2023

January 27, 2023

2023’s Hottest NFT Collections Include Moonbirds, Azuki, and Ganja Guruz

January 27, 2023

Solana (SOL) and LEO Token (LEO) Witness Steep Decline; Flasko (FLSK) Looking To Help Investors Recover Loss

January 26, 2023

BudBlockz (BLUNT) Emerges as a Haven as Bitcoin Cash (BCH) and Stellar (XLM) Struggle to Grow

January 26, 2023

The Top Picks for a Bear Market: Hedera (HBAR), Toncoin (TON), and Orbeon Protocol (ORBN)

January 26, 2023

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Links

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play Games
  • Play Casino Games

© 2022 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.