AURIC Featured in CBS News Moneywatch: Facebook Libra

Bitcoin price hits 1-year high on boost from Facebook's Libra plan.

  • The price of bitcoin rose to $9,469, its highest level in more than a year, just as Facebook rolled out details of its cryptocurrency project.

[Excerpt below]

The digital currency project Facebook detailed on Tuesday will take up to a year to become publicly available and two to five years to be judged a success, or failure. But even before it became official, the project, known as Libra, has been able to do what seemed  impossible: Drag the price of bitcoin out of the doldrums and to a one-year high.

The missing "catalyst"
"This is only going to accelerate the mass usage of cryptocurrency or digital currency. … I think this is the catalyst everyone's been looking for," said Chris Ligan, vice president of acquisitions for Auric, a credit card processing company. "JPMorgan Chase made their big announcement, and that had barely any effects. This, this is huge." Added Ligan: "Particularly with Facebook's marketing announcements. … You see a lot of speculators getting back in the market." 

JUNE 19, 2019 / 8:29 AM / MONEYWATCH

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AURIC Idea Team