Whatever will be done by a large company to help enliven, by displaying the new Libra coins, it will definitely have an impact, will the impact really affect bitcoin? I strongly believe that there will be no direct impact on the existence of bitcoin because its share is clearly different and better known. not easy to change the trust that has happened to bitcoin to libra.
What I believe is that there would be no negative impact on the coin, but there would be a lot of positive impact on the price of bitcoin, the impact would come on the awareness the Facebook coin would create, and also the pairs it would have with bitcoin.
I am sure that when Libra coin is paired with bitcoin, it would sometimes require people to demand for bitcoin in other to be able to by the Libra coin, and also, people would also be able to trade both on exchange platform, so I don’t see any negative effect but positive one, even though I fear that the said Libra coin may not really be launched, because Facebook itself has also expressed some fears about it because of the G7 that has expressed concern about the technology and may be going against it.
If a global stable coin appears, which will be widely used by society, it will certainly have a negative and positive impact on bitcoin and other cryptocurrencies. Already now there is information that a stable USDT coin has a greater trading volume than Bitcoin. This means that this stable coin diverts a significant amount of investor funds, that is, it means that bitcoin is less used as a means of payment.
However, I would not want a global stable coin to be issued by a private corporation. This will mean that the global financial system will depend on well-being, in this case, Zuckerberg. And why do we need this? Such a coin should be issued by the state, and even better by a group of states.
