Facebook CEO Hinting at Adding Bitcoin to Balance Sheet
Mark Zuckerberg, CEO of Facebook, recently posted pictures of a few goats on his Facebook page. However, these pictures have an element that made them go viral within the crypto community and start a debate about the possible affiliation with Bitcoin. In the picture, one of the goats is named Bitcoin. Bitcoiners and crypto enthusiasts are attributing this phenomenon to the ambition of Facebook for adding Bitcoin.
A few weeks ago, Facebook also became the centre of attention in the crypto community circles as the rumours of Bitcoin investment spread. According to various news outlets and Twitter accounts, Facebook’s Q1 report for 2021 would reveal that the company has been investing in Bitcoin secretly. However, after the actual review of these reports, the rumours were formally invalidated. With the current symbolism of Zuckerberg, it seems that Facebook might be looking to expand in the crypto-verse after all.
How Is the Crypto Community Taking this News?
Bitcoin that almost went to $60K has once again dived $55K. However, most analysts agree that this type of correction is presenting institutional investors with the option to purchase more Bitcoins. In February, Elon Musk made Bitcoin a public phenomenon when he announced adding $1.5 billion in flagship cryptocurrency to Tesla. As soon as the news hit the market, Bitcoin price went up, and a new influx of institutional investors was introduced.
Zuckerberg’s association with Bitcoin can have the same effect. Some analysts have claimed that Bitcoin has become so big that it is impossible for companies like Amazon, Apple, and Google to not put their stakes in it sooner than later. Zuckerberg has also hired David Marcus from PayPal to manage the crypto venture that Facebook is trying to launch for the better part of the last and ongoing year.
Are Goat pictures a Positive Sign for Bitcoin and Facebook Collaboration?
While at one end, Bitcoiners are celebrating the pictures shared by Facebook’s eccentric CEO. Others think differently. Jack Dorsey, CEO of Twitter and Square Inc., shared a narrative from when he was invited to have dinner with the Tech billionaire. Dorsey said that Zuckerberg went through the phase of eating only meat that he hunted himself. There are some native regulations in Palo Alto that the person can own six livestock with any piece of land.
In compliance with these laws, Zuckerberg slaughtered the goat before dinner. However, Dorsey preferred to have the salad only that was served at the dinner table. Considering this story, it does not seem very likely that the social media CEO is thinking about adopting Bitcoin if not for sacrificing it eventually. It should be noted that Facebook has been attempting to launch a stablecoin named Diem this year.