The altcoin news today feature one of the biggest cryptocurrency index fund providers in the United States, Bitwise. As the updates show, Bitwise claims Facebook Libra is the stablecoin that accelerated Bitcoin’s progress by three years ahead. In a letter sent to investors and published on the Bitwise website on August 1, the index fund provider made some confident remarks. The letter features the Bitwise claims made by the global head of research at the company, Matt Hougan, who spoke on behalf of the company and said:
“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 latest cryptocurrency news also show that Bitwise claims that as a consequence of Libra’s development and the crypto hearings with the Congress, “people realize they can no longer ignore cryptocurrency.” Still, Bitwise also admits that not all of the attention devoted to crypto may be positive and that the regulators’ focus on crypto may also have negative ramifications in the future. What’s also noted in the Bitwise claims is the company’s belief that the government will move the regulation up to the shadier parts of the cryptocurrency industry which basically include initial coin offerings (ICOs) and unregulated exchanges. The coming altcoin news show a conclusion of the Bitwise letter:
“But even this scrutiny and attention will be good for crypto long term. It will give investors the assurance that regulators are involved and will clarify the guidelines under which the mature version of crypto can develop.”
As we reported at the end of last month, Facebook warned its investors that the Libra stablecoin may never be released. Speaking of, Facebook is constantly in the news with its Libra stablecoin and the question of its officializing is still unknown. One of the updates are the Bitwise claims as reported above. Meanwhile, many best cryptocurrency news sites are reporting the situation in which Bitcoin is – currently heading to $11,000 with a positive surge on the day. The $10,950 price margin could be an indicator that a new monthly high is coming as we speak. The altcoins are reluctant but still triggered by the positive movement of BTC.