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Home Crypto News Market Facebook May Launch Libra in January 2021

Facebook May Launch Libra in January 2021

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In January next year, Facebook could start Libra which is Facebook cryptocurrency, the Financial Times reported today.

The Libra coin would be backed 1 to 1 by the dollar. Facebook is still waiting for the green light from the Swiss regulator Finma. In October, the G7 reported that Libra Launch was against laws until officially approved.

In addition to the crypto coin, Facebook already has its payment system. The reports tells that coronavirus puts a lot of pressure on advertising revenue and that Facebook is, therefore, looking for new revenue models.

According to the analysts, over 2020, the company’s total revenue from Menlo Park will be 83,93 billion USD. This is really higher than 2019’s revenue of 70,7 billion USD.

According to the latest round of the analysts’ survey, the company is heading for a profit per share of 9,33 USD. This brings the price/earnings ratio to 29.54.

Analysts do not expect the company to pay dividends. On average, a share in the internet companies delivers a limited dividend yield of approximately 0,32 percent.

Analyst estimates Facebook Shares around $ 325

BMO Capital Markets, Wells Fargo, and Wedbush Morgan Securities recently provided recommendations for the stock.

The company’s market capitalization is based on the current number of outstanding shares, around 657,28 billion USD. The stock was the past 12 months quite unstable. A year ago, the share was no less than 36 percent in the plus. The stock traded between $ 137 and $ 305 in the past year.

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Mark Brennan
Mark Brennanhttps://thecryptobasic.com/
Mark is 27, holds a Master in Business Administration degree and works as a content Creator at TheCryptoBasic mostly on Crypto Market Updates. Since 2014 he has been active in the crypto sector. Thanks to the Business College in which other than Business subjects, he was taught about the disruptive potential of Blockchain. His interests include Blockchain technology and Crypto Market innovations. He also founded a small startup in which he gives lectures on cryptocurrencies.

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