The piece, “Facebook’s Libra: Stablecoins Burst on the Scene,” provides a deep dive into the firm’s views on the evolution of stablecoins, what they mean for the crypto ecosystem, and how Facebook’s plans for its own cryptocurrency, dubbed “Libra,” have spurred an important and necessary debate on the role that crypto can play in global payments and more.
“We believe stablecoins, the Lightning Network and sidechains will strengthen the Bitcoin and cryptocurrency ecosystem, and we are continuing to watch several top developments in this space over the next year,” write van Eck and Gurbacs. “We still think that bitcoin has the potential to become a type of digital gold, a possible modern ‘store of value.’ Bitcoin and digital assets are already a part of many investor portfolios, just not in traditional brokerage accounts, and it may play a bigger role with appropriately regulated, insured and liquid access vehicles, such as ETFs.”
“The U.S. may benefit from embracing these innovative technologies,” they add. “A market-led 10-year plan to upgrade U.S. payments, currency and capital markets infrastructure may further the public interest.”
The full post can be found here: https://www.vaneck.com/blogs/market-insights/facebook-libra-stablecoins-burst-on-scene
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