Facebook is now allowing Bitcoin, to post advertisements on its newsfeed walls, and this has triggered expectations of a turn-around in the slump for this controversial crypto-currency.
Bitcoin has steadily slid to almost $6,000 during the last week, and forecasts of doom have already been sounded for Bitcoin and other crypto-currencies after its price plummeted from almost $20,000 in December 2017.
Will this save Bitcoin? Or is there something in the works between Facebook and Bitcoin?
There are rumors that Facebook is planning to acquire Coinbase, one of the world’s most popular exchanges of crypto-currency.
It’s possible that Facebook wants its own platform to use crypto-currency as medium of exchange for its 2 billion users.
If this acquisition pushes through, then Bitcoin will have regained its reputation as a legitimate medium of exchange, an image that was damaged in the wake of reports that it is being used for fraud and money laundering for crime syndicates.