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#CryptoCorner: Zuckerberg Says Libra (NasdaqGS: $FB) Can Increase Ad Prices and Report from Grayscale Investments ($GBTC) Explores Relationship Between CBDCs and Bitcoin

 

Point Roberts, WA and Delta, BC - May 29, 2019 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news brings you today's edition of the Crypto Corner podcast and commentary on what's driving the cryptocurrency market.

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https://www.investorideas.com/Audio/Podcasts/2020/052920-CryptoMarket.mp3

#CryptoCorner: Zuckerberg Says Libra (NasdaqGS: $FB) Can Increase Ad Prices and Report from Grayscale Investments ($GBTC) Explores Relationship Between CBDCs and Bitcoin

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Stocks discussed: (KSE:005930) (NasdaqGS:FB) (GBTC)

Gemini has become the first U.S. crypto exchange and custodian to partner with Samsung (KSE:005930) Blockchain to power the Samsung Blockchain Wallet, according to an official blog post from the former. The blog post, written by Gemini Co-founder and CEO Tyler Winklevoss, explains that the "integration will allow Samsung Blockchain Wallet users to connect to the Gemini mobile app to buy, sell, and trade crypto." Winklevoss elaborated:

The Samsung Blockchain Wallet is a convenient and secure crypto-wallet that allows users to self custody their crypto directly on their Samsung Galaxy phone supporting the Samsung Blockchain. By connecting their Samsung Blockchain Wallet to Gemini, users can buy and sell crypto, view their Gemini account balances, and also transfer their crypto into cold storage with Gemini Custody for the highest level of security.

Cointelegraph reports that Facebook's (NasdaqGS:FB) Libra digital currency project will allow the social network to increase its ad prices, according to a statement from CEO Mark Zuckerberg in the company's annual shareholder meeting on Wednesday. Zuckerberg's comments were in response to queries regarding how Libra will profit the company. He said:

"When they run an ad, somebody clicks on that ad and is now going to be more likely to buy something because they actually have a form of payment that works that's on file; then it basically becomes worth it more for the businesses to bid higher in the ads. And what we see are higher prices for the ads overall."

A recently-published report from Grayscale Investments, titled: Central Bank Digital Currencies Highlight Bitcoin's Value Proposition, explores the significance of CBDCs and their relationship with Bitcoin (BTC). The two are contrasted in the following excerpt from the report:

CBDCs are sometimes viewed as synonymous to, or as replacements for, digital currencies like Bitcoin, but they represent a meaningful departure from the decentralized protocols inherent to many cryptocurrencies. CBDCs attempt to upgrade payment infrastructure while Bitcoin is an attempt to upgrade money. If CBDCs gain traction, they may actually bolster the value proposition for Bitcoin and other digital currencies.

An excerpt from the report's conclusion further outlines the different trajectories of both categories of currency:

CBDCs are a popular subject of analysis, particularly as the People's Bank of China gears up to launch their CBDC in 2020 and as legacy banking infrastructure hinders stimulus distribution in the wake of the COVID-19 pandemic. CBDCs have the potential to streamline payments, but may compete with commercial banking, further politicize financial services, and fail to gain widespread adoption. Bitcoin isn't waiting for CBDCs - it is rapidly gaining mindshare on its own. But if CBDCs are successfully launched, the infrastructure and education that would accompany the use of these bearer assets could serve as a gateway for further adoption of Bitcoin and other digital currencies. Moving fiat currencies to digital infrastructure would highlight that Bitcoin is special not because it is digital, but because Bitcoin is a scarce, uncompromising, apolitical currency that is open for anyone to use.

Sam Mowers, Investorideas

For investors following the sector Investor Ideas has a comprehensive Bitcoin, Blockchain and Digital Currency Stocks Directory

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