BITCOIN’S (BTC) fortunes have been closely linked with Facebook Libra since it was announced. But bitcoin will outlive the social media giant’s stablecoin, a crypto expert has claimed. Bitcoins traders appear to have been spooked by US lawmakers’ pressure on Facebook’s Libra, which has rippled throughout the cryptocurrency market. The price of Bitcoin had fallen more than 11 percent in the past four and half hours, to around $9,650 (£7,778) 4.16 PDT (9.16pm BST) – according to CoinBas.com data on July 16 – by the end of a Senate Banking Committee hearing on Libra Tuesday morning (PDT). This marks the first time in a fortnight Bitcoin has dropped below $10,000. However Danny Scott, CEO of British-based bitcoin exchange CoinCorner believes bitcoin has nothing to fear from Facebook Libra and associated stablecoins, and even predicts the flag ship crypto will outlive these young upstarts. Mr Scott told Express.co.uk: “These tech companies setting up their own currencies is in my...
Comments