---
title: "Facebook’s Libra Cryptocurrency Just Resuscitated Bitcoin"
description: "Thanks to a popularity boost from Facebook's Libra cryptocurrency, the value of Bitcoin recently surged to over $11,000."
date: "2019-06-24"
modified: "2019-06-24"
authors:
  - name: "Dan Robitzski"
    link: "https://futurism.com/authors/danrobitzski"
url: "https://futurism.com/the-byte/facebook-libra-cryptocurrency-bitcoin"
categories:
  - "Bitcoin"
  - "Blockchain"
  - "Cryptocurrency"
  - "Future Society"
tags:
  - "bitcoin"
  - "cryptocurrency"
  - "facebook"
  - "the digest"
---

# Facebook’s Libra Cryptocurrency Just Resuscitated Bitcoin

![Thanks to a popularity boost from Facebook's Libra cryptocurrency, the value of Bitcoin recently surged to over $11,000.](<https://futurism.com/wp-content/uploads/2019/06/facebook-libra-cryptocurrency-bitcoin.jpg>)
*\<em\>Image: Shutterstock/Victor Tangermann\</em\>*

## Welcome Back

Bitcoin reached the highest value the popular cryptocurrency has had in the last 16 months — $11,251.21 — on Monday.

And Facebook is likely to blame. Analysts suggest that the social media giant's [recent unveiling](<https://futurism.com/facebook-libra-cryptocurrency>) of its own cryptocurrency called Libra likely bolstered investors' confidence in crypto across the board, [according to *Agence France-Presse*](<https://phys.org/news/2019-06-bitcoin-surges-facebook-currency.html>). Though Bitcoin never really recovered from its [massive crash](<https://futurism.com/bitfinex-tether-bitcoin-manipulation>) in late 2017, the recent resurgence is a sign that the cryptocurrency isn't quite fading away as [some believed](<https://futurism.com/the-byte/mining-bitcoin-energy-gold>).

## Crypto-Optimists

Thanks to the [popularity boost from Libra](<https://futurism.com/the-byte/expert-facebook-independent-country>), the analysts who spoke to *AFP* predict big things in Bitcoins future, though the unpredictability of any cryptocurrency's value will forever pose a challenge to investors.

"Bitcoin volatility is likely to persist," Edward Moya, a senior market analyst at the foreign exchange company OANDA, told *AFP*, predicting that the cryptocurrency would struggle but eventually succeed to hit $12,000 and $15,000 down the road.

**READ MORE:** [Bitcoin surges above $11,000 thanks to Facebook's currency plans](<https://phys.org/news/2019-06-bitcoin-surges-facebook-currency.html>) \[*AFP* via *Phys.org*\]

**More on Libra:** *[Senator Slams Facebook's New Crypto: "Facebook Is Already Too Big"](<https://futurism.com/the-byte/senator-facebook-crypto>)*

## Author
Dan Robitzki is a senior reporter for Futurism, where he likes to cover AI, tech ethics, and medicine. He spends his extra time fencing and streaming games from Los Angeles, California.

### Author social links  
[Twitter](<https://x.com/danrobitzski>)