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- Facebook is holding its 2021’s first earning call on April 28, 2021, at 9:00 p.m. UTC.
- Following Facebook’s crypto-project Libra, now rebranded to Diem, netizens speculate that it holds cryptocurrency.
- Facebook has two pro-Bitcoin board members, Marc Andreesen and Peter Theil.
Netizens worldwide speculate what the most extensive global leader in social media platforms might have in store? Facebook (FB) is holding its 2021’s first earnings call in a few hours, and the global population, including its 2.6 billion client base, is waiting with bated breath of what the meet might reveal. Is the company holding Bitcoin on its balance sheet?
Facebook’s earnings call is scheduled and crypto-analysts speculate it could reveal Bitcoin on the firm’s balance sheet.
Rumours & the Earnings Call
Though there isn’t a single proof on the affirmative, rumors have begun circulating that the massive tech company holds cryptocurrency. Whether the speculations are true or just groundless, talk is set to be revealed during Facebook’s Q1 2021 Earnings scheduled on April 28, 2021, at 14:00 PT or 21:00 UTC.
Stirring the fire further, the investor and CIO of the Atlanta Digital Currency Fund, Alistair Milne, tweeted that he theorizes the same. Many observers question the rumor while the rest, relating this to FB’s Libra project, renders it entirely feasible.
Facebook’s Crypto-Attempt
Launched in 2019, Libra was Facebook’s attempt at a new cryptocurrency, powered by assets including the International Monetary Funds (IMF) Special Drawing Rights (SDR) reserve currency; it faced immense backlash from regulators. Following the withdrawal of several project member firms, including PayPal (PYPL), Visa (V), Mastercard (MA), Stripe, Mercado Pago, and eBay (EBAY), the project essentially collapsed.
The project was then rebranded to “Diem,” which aims “to build a trusted and innovative financial network” empowering businesses and individuals worldwide. Even with a controversial history, FB’s Diem still has many members, including Lyft, Uber, Shopify, Coinbase, Spotify, and more.
Pro-Bitcoin Board Members
In addition to FB’s evident interest in the crypto space, the company now has two pro-Bitcoin board members, Marc Andreesen and Peter Theil.
Marc Andreesen is the celebrated co-author of the first widely used web browser, Mosaic, co-founder of Netscape, and co-founder and general partner of Silicon Valley venture capital firm Andreessen Horowitz. Being a significant investor and supporter of cryptocurrency, he has also helped fund projects, including MakerDAO, Compound, Celo, and even Coinbase. As apparent from Andreesen’s column titled “Why Bitcoin Matters” for New York Times, in 2014, he believes Bitcoin is a powerful catalyst that can reshape the financial system.
On a similar note, Peter Thiel is a billionaire entrepreneur and venture capitalist. He co-founded PayPal, Palantir (PLTR), and Founders Fund and was the first outside investor in Facebook. However, his stance on Bitcoin is quite complicated. On the one hand, Thiel praised Bitcoin during his interview at the Future Investment Initiative in Riyadh, Saudi Arabia, in 2017, concluding people are “underestimating bitcoin.” Yet, despite being “a pro-crypto, pro-Bitcoin maximalist person,” he called the token a potential “Chinese financial weapon” in an interview at the Richard Nixon Foundation.
Is FB The Next Giant To Reveal BTC Holdings?
Project Diem, along with its two mostly crypto-supporting board members, is what has led crypto-enthusiasts to speculate that Facebook could be the next big company to reveal Bitcoin holdings. Now, to find out whether their notion is right or wrong, we’ll have to wait for the company’s earnings call.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
