Bitcoin Loses Almost a Third of Its Value as Libra Hype Fades
Regulatory scrutiny of Facebook’s ambitious plan to release a cryptocurrency, called Libra, has spoiled bitcoin’s big rally this year.
“What legitimate corporate or consumer global payments need exists that a Facebook-led crypto consortium can uniquely fill? In our view, none,” Morgan Stanley analysts said in a note on Tuesday.
Regulatory scrutiny of Facebook’s plan to release its own digital coin, called Libra, has spoiled bitcoin’s big rally this year