Facebook’s Libra Moved Bitcoin and Crypto Three Years Ahead

United States-based cryptocurrency index fund provider Bitwise declared that Facebook’s Libra stablecoin accelerated Bitcoin’s (BTC) progress by three years in a letter to investors published on its website on August 1.

Libra attracted attention to Bitcoin

In the letter, Bitwise’s global head of research Matt Hougan said on behalf of the company:

“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.”

Increasing regulatory scrutiny

The firm 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 admits that not all of the attention devoted to crypto may be positive and that regulators’ focus on crypto may have negative ramifications in the future.

The firm also noted that it expects the government to up…