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Bitcoin surged anew Friday, and is set to cap the best quarterly rally since the height of 2017’s cryptocurrency bubble with another push higher following a week of extreme swings in prices.
The biggest announcement came from Facebook Inc., which unveiled plans for its own cryptocurrency named Libra. The social media giant, in conjunction with a group of partners including Visa Inc. and Uber Technologies Inc., hopes it will one day trade much like the U.S. dollar, and that’s heartened crypto’s biggest fans.
“Libra’s launch is undoubtedly an exciting move for the industry,” said Herbert Sim, head of business development at Broctagon Fintech Group. “This would be a huge step towards crypto going mainstream.”
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