Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
The Daily Hodl
No Result
View All Result

Leading Hedge Fund Says Bitcoin and Crypto Will Benefit From ‘Large Net Positive Effect’ Via Libra

by Daily Hodl Staff
July 23, 2019
in Bitcoin
‏‏‎ ‏‏‎ ‏‏‎ ‏‏‎
‎‎‎ ‏‏‎

The crypto and blockchain hedge fund Pantera Capital says it believes Facebook’s Libra will have a “large net positive effect on Bitcoin and cryptocurrencies.”

In a new investment letter, Pantera CEO Dan Morehead says Facebook’s effort is an impressive attempt to create a stable digital asset.

“I am particularly impressed with the SDR-type basket the Facebook team decided on to back the tokens. It’s not wildly fluctuating, nor is it pegged to a single country’s currency. Libra will be fully collateralized with four of the oldest, most stable currencies:  the U.S. dollar, the British pound, the Euro, and the Japanese yen.”

Detractors, however, point out that Libra is backed by powerful companies, merely displacing centralized financial services that are in the hands of the banking elite with similar services shifting into the hands of big tech.

Despite the intense scrutiny surrounding Libra, Pantera points to Facebook’s global reach as a core strength of the project which it equates with a similar effort made by the International Monetary Fund 50 years ago.

“The IMF created Special Drawing Rights (SDRs) as an international reserve currency in 1969. (This year is the 50th anniversary of the SDR.)  It comprises a basket of fiat currencies weighted by relative importance within the world’s trading and financial systems. However, it never really was used because nobody could transact in it. Libra is designed to be used.”

According to Pantera, Libra also addresses complaints about US dollar hegemony by offering a solution that pushes the global financial system trajectory towards a more inclusive and technologically advanced system.

“We believe that the launch of Libra will have a large net positive effect on Bitcoin and other cryptocurrencies. Increased competition will breed the strongest networks that provide real benefits to society – there isn’t one right way to achieve this. Just as cryptocurrency may be the next evolution in finance, there will be evolutions within cryptocurrency itself. The approach described in the Libra whitepaper walks a tightrope between two extremes – and potentially creates the best of both worlds.”

You can check out the full investor letter here.

Follow us on Facebook            Join us on Telegram            Follow us on Twitter


Check Latest News Headlines


ADVERTISEMENT


Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Submit a Press Release

Crypto Livewire – Press Releases

  • Bang Bang: Critical Factors Fueling Rise of the Retail Investor
    February 25, 2021
  • How Traders Make Money in Both Bull and Bear Markets on BigoMex
    February 25, 2021
  • Student Coin Found New Ways to Use Crypto
    February 24, 2021
  • Everest Receives Crypto Custodian Approval
    February 23, 2021
  • Here’s How Traders Are Staking Crypto Assets Without the Hassle
    February 18, 2021
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$45,578.00
$45,578.00
9.94%
Ethereum
$1,438.90
$1,438.90
12.1%
Binance Coin
$218.60
$218.60
12.25%
Polkadot
$29.50
$29.50
12.3%
Cardano
$1.02
$1.02
2.94%
XRP
$0.429534
$0.429534
9.78%
ADVERTISEMENT

Spotlight

  • $8.7 Trillion Asset Titan BlackRock Has Officially Entered Bitcoin Market
    February 18, 2021
  • North American Bitcoin ETF Erupts, Analyst Says It Could Soon Shatter $1 Billion in Assets Under Management
    February 22, 2021
  • Dash Isn’t a Privacy Coin, According to Andreas Antonopoulos
    February 19, 2021
  • Public Companies Will Mirror Tesla’s Bitcoin Investment, Says Wealth Management Exec – Here’s Why
    February 23, 2021

DON’T MISS A BEAT

Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options

By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.

Check your inbox for confirmation email.

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX • Explore • Futuremash •
Crypto Livewire

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2021 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro

© 2020 The Daily Hodl

×
We use cookies to give you the best online experience possible. Continue browsing if you are happy with that, or see how to manage cookies.