Cryptocurrencies can benefit from wider adoption and many believe that with a user base of about two billion people, Facebook (NASDAQ:FB) can speed up the process. Its Libra project has drawn sharp criticism from regulators, finance ministers and central banks around the world.
Previously, Bitcoin rallied along with risky assets, however, in the past few months, it has been acting similar to a safe haven, though it is not there yet, according to Nelson Minier, head of over-the-counter sales at cryptocurrency exchange Kraken. Minier said that the current state of the cryptocurrency industry, with all its innovation and trading, is similar to how Wall Street was when he was new to it.