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In a survey on the heels of the Facebook-crypto news, LendEDU found that while only 7% of adult Americans have ever invested in virtual currency, 18% would be interested in investing in a cryptocurrency created by the social media giant.
Cryptocurrency has come a long way since those wild and volatile times of 2017.
No longer do we see the crazy price swings – like Bitcoin going from $900 to $20,000 in less than a year – and the stories of everyday people striking it rich due to some old investments in Bitcoin that they forgot about. In general, it seems that the media buzz surrounding virtual currency has simmered.
However, virtual currencies have been quietly moving towards legitimization and stabilization. One of the most powerful financial institutions in the world, Fidelity Investments, will soon begin buying and selling digital assets for customers, while JPMorgan Chase, led by one-time crypto basher Jamie Dimon, is launching its very own virtual currency.
Now another behemoth, Facebook, is pushing its way into the cryptocurrency space. For over a year, Facebook has been working on their very own digital coin that users will be able to send to one another, in addition to using it to make purchases on the Facebook Marketplace and across the internet.
With over 1.5 billion daily active users that give the social media company an opportunity to upend the world of e-commerce, Facebook’s virtual currency has endless potential. To gauge how interested the everyday consumer would be in a Facebook-created cryptocurrency and to evaluate how it could change the company’s marketplace platform, LendEDU conducted a survey of 1,000 adult Americans and found some pretty interesting results.