If bitcoin didn't have enough of a bull case, it just got another one!

In a report out today in Cointelegraph, it was revealed that the much anticipated Libra currency may launch as soon as January of next year.

For those counting, that is less than 2 months at this point!

Libra has undergone scrutiny from regulators all over the world and the launch of the project had been pushed back more times than I can even count at this point.

So much so that the latest release date had been changed to, "sometime".

That may all be changing according the report as Libra could launch as soon as January of next year.

According to the report, the exact date of launch will depend on when Libra receives regulatory approval from the Swiss Financial Market Supervisory Authority, or FINMA, to operate as a payments service.

https://cointelegraph.com/news/facebook-s-libra-to-reportedly-launch-in-january-2021-as-usd-stablecoin

Which probably means... Libra won't be launching in January, but it could.

If you thought PayPal was big for Bitcoin, Libra is going to be absolutely YUGE!

By all accounts, the PayPal news has been a huge boon for bitcoin. In fact there has been a direct correlation between when PayPal went live and a significant price increase in bitcoin.

Something that likely isn't just a coincidence.

That being said, the Libra launch may be even bigger for bitcoin and crypto than PayPayl was/is.

For one, PayPal has something like 350 million users, which is a very large number, but Facebook as something like 2.7 billion users.

Yea, Facebook is orders of magnitude larger in terms of users, to the tune of roughly 8x.

Not all of Facebook's users will get involved with Libra of course, but even if just 10% do, that would be 270 million people, which is almost equivalent to all of PayPal.

Libra will be a dollar pegged stable coin intended for use as a means of payment, but it will also prove to be a gateway into the crypto ecosystem, which is dominated by bitcoin.

Users will most likely use Libra for payments and they will buy some digital gold to hold in bitcoin.

Which means, you probably want to be a buyer on this recent dip as we are likely to get another massive influx of new users/investors early next year.

Stay informed my friends.

Image Source:

https://theconversation.com/buyer-beware-how-libra-differs-from-bitcoin-123154

-Doc

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