Governments fear Diem, but they should be even more afraid of Bitcoin (BTC) exceeding gold and ruling over assets in terms of market cap. Even Facebook now has to recognize the value of Bitcoin.
Bitcoin avenges the Winklevoss
The market capitalization of Bitcoin recently overtook that of Facebook.
January 8, 2021, Bitcoin hit a new ATH approaching or touching $ 42,000, depending on the exchanges.
Its market cap reached $ 770 billion while that of Facebook amounted to 752 billion.
Cameron Winklevoss said it makes sense that a currency network is worth more than a social network.
The winklevoss brothers are long-time HODlers of Bitcoin. In 2013, they reportedly acquired around $ 11 million worth of BTC.
Following their lawsuit against Mark Zuckerberg, the Winklevoss got $ 65 million and created their own exchange, Gemini.
Patience is golden
On the side of Facebook, it lags – it is not an allusion to the fact that the brothers Winlevoss be rowing champions.
The project Libra was renamed Diem. This new version of the project includes multiple stablecoins, each linked to a currency.
In November 2020, rumors indicated that the project could be launched in January 2021, if Diem obtained the approval of Swiss financial market supervisory authority.
Many regulators around the world have spoken out against Diem. With its 2.7 billion users, Diem could be adopted on a large scale without the appropriate regulatory framework, potentially posing a risk to national monetary systems.
After Berkshire Hathaway, Ali Baba, Tencent and Facebook, Bitcoin now closely behind major companies such as You’re here, Google, Amazon, Microsoft and Apple.
The BTC has a long way to go before it can exceed the market capitalization of gold, Peter Schiff can still boast of her baby’s worth in the face of Bitcoin.
Bitcoin: a company with an unknown founder, without a CEO who would grab the limelight, now owned by everyone who wants to join the network, able to bring the greenback to its knees. Great leaders should learn from the work of Satoshi Nakamoto to improve the functioning of organizations. Social media are now busy with their feud against Donald Trump. Bitcoin continues its path: the Trump administration was ultimately profitable to him, Joe Biden’s team should also work for him. Can’t wait for the oath?
Litecoin, welcome in the Silver Age