• Sun. Oct 1st, 2023

How Bitcoin (BTC) Can Help Facebook Recover its Reputation



Apr 27, 2021

Just recently, rumors had started spreading that Facebook was going to make a huge announcement around Bitcoin (BTC). The rumors suggested that Facebook would announce it has invested in and currently holds Bitcoin (BTC).

While many on the social media platforms were thrilled about the news, some people were thinking rationally. One such personality was Alistair Milne who simply turned down the rumors. He stated that there are several rumors nowadays about every other major platform in regards to investing in Bitcoin (BTC).

For Facebook, the rumors had started emerging on Tuesday, April 27, and it was claimed that Facebook would make the announcement on Wednesday, April 28.

Alistair Milne, who is a prominent investor, stated that he does not believe in the rumors at all. He stated it has now become a trend for people to spread rumors in order to create a spike in BTC prices.

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Milne advised all crypto-enthusiasts and his followers through his Twitter account not to believe in these rumors. Instead, he asked the entire community and wait until Wednesday, April 28, and see if Facebook does make an announcement.

As expected by Milne, the rumors never materialized and Facebook made no such announcements around the acquisition of Bitcoin (BTC). Milne posted another tweet on Wednesday, April 29, stating he is glad no spike in BTC’s price was observed after the rumor.

Although the rumors did not materialize at present, there is still a possibility that Facebook would make the announcement someday. Many analysts and observers of Facebook have shared some of their views about Bitcoin (BTC) and the majority of them match one another.

The majority of the analysts talk about what would happen to Facebook if it does announce it hold Bitcoin (BTC). The simple answer to this question is simple, which is that the firm will benefit a lot from such an announcement.

The first reason would be that it would help Facebook change the way that its users and others perceive Facebook. At present, the majority of Facebook users and other platforms do not hold Facebook in high regard.

Many consider Facebook to be selfish and a firm that does not want to lose ownership of anything. Most importantly, the platform cannot accept if it invests in a third-party platform, it does not own. If Facebook does this, then it would mean Facebook is trying to changes that image. This way, users and other platforms will start perceiving Facebook in a different way.

The other benefit would be to let its users utilize Bitcoin (BTC) through its platforms rather than going for Diem. Facebook is currently in process of launching its own digital-asset “Diem”, which is no longer a new idea. Most importantly, the Diem Diem digital asset would be centralized as it will be governed by Facebook.

The platform already has a bad reputation for getting information of its users to get stolen or leaked out. Therefore, rather than investing in Diem, it must start investing in Bitcoin (BTC) and offer the same to its users.


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