According to several sources well established in the cryptocurrency ecosystem in the United States, the social networking giant would have Bitcoin in its balance sheet. The official announcement could take place on Wednesday, April 28.
According to Mira Christanto, a research analyst at Messari, the current fluctuations in the price of Bitcoin would be linked to buying and selling moves from Silicon Valley giants. The price drop below $48,000 was reportedly triggered by the sale of 10% of Tesla's BTC holdings - a report confirmed by Elon Musk himself - while the recent rebound is said to be due to Facebook's purchase of Bitcoin. Following Tesla's $1.5 billion purchase of Bitcoin in February, it is now Facebook's turn to endorse Bitcoin's reserve value status.
Elon Musk and Mark Zuckerberg bet on Bitcoin
Facebook is scheduled to release its quarterly results on Wednesday, April 28. It is on this occasion that the company founded by Mark Zuckerberg could reveal that it has placed part of its cash in Bitcoin. Such an announcement would be likely to propel Bitcoin to new heights. In addition, in a tweet about Tesla's surprise Bitcoin sale, Elon Musk revealed that he personally owns some.
Facebook's entry into cryptocurrencies is likely to be closely linked to the upcoming launch of the California-based company's stablecoin, Diem, a dollar-indexed cryptocurrency for which an application for a payment license is notably underway with the Swiss regulator.
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