Today, Brian Armstrong, CEO of Coinbase, released some positive news regarding the recent censorship of cryptocurrencies on the web. More specifically, Coinbase can now place ads on Facebook and is back in business! This comes as a 180 degree turn from Facebook’s previous sentiment when it decided to ban any cryptocurrency related advertisements.
While this is not an indication that more tech companies are going to follow suit and begin allowing cryptocurrency ads, it seems reasonable to expect more companies are willing to bridge to gap for reputable companies.
Regarding whether this news can help Bitcoin increase in price or grow moving forward, most would agree it’s a step in the right direction. Cryptocurrencies just need to increase their reputation after the recent downturn and ads to get more new investors in might need the push we need.
For now, we believe holding onto Bitcoin would be a good idea as long as it maintains its price above $6500 in the near term.