Meta Plans Crypto Integration for 3 Billion Users as Bitcoin Surges 30%

Mark Zuckerberg, the chief executive of Meta, is reportedly planning to integrate crypto support for the company's 3 billion global users. This move comes as the bitcoin and crypto market has seen significant growth, with the bitcoin price surging to over $100,000 per bitcoin, up 30% from its April lows. The integration of crypto support by Meta could potentially disrupt the $3 trillion bitcoin and crypto market, which has soared over the last year.

Meta is reportedly in discussions with crypto firms to introduce stablecoins as a means to manage payouts. The company, which runs the Facebook, Instagram, and WhatsApp platforms and is developing a shared virtual reality it calls the metaverse, is still recovering from its failed attempt to upend the global financial system with its libra-diem crypto-inspired currency that was torpedoed by regulators in 2019.

Since then, the dollar-pegged stablecoin market, dominated by Tether’s USDT, has seen massive growth. The phenomenal success of USDT has led to a sudden influx of rivals, with tech and Wall Street giants either launching or working on their own dollar-pegged stablecoins. The integration of stablecoins by Meta could further accelerate the adoption of stablecoins as superior payment rails, especially in the metaverse and video-gaming industries where stablecoins are already commonly used.

Mark Zuckerberg spoke at a Stripe conference this week, after Stripe announced it would be "accelerating" its use of stablecoins using the stablecoin infrastructure company Bridge it bought last year. Zuckerberg reportedly said, "There’s plenty of things that [we’re] late to, and have to claw our way back into the game, which I think we’re pretty good at." This statement suggests that Meta is aware of the potential of stablecoins and is looking to integrate them into its ecosystem to stay competitive.

The integration of crypto support by Meta could have significant implications for the bitcoin and crypto market. The move could potentially blow up the bitcoin price and crypto market, as it would provide a massive user base for crypto transactions. The integration of stablecoins by Meta could also accelerate the adoption of stablecoins as a means of payment, further disrupting the traditional financial system.