Key Words: Facebook is preparing for ‘the next stage’ of this financial meltdown, strategist says

Facebook on Tuesday finally revealed the details of Libra, its hotly anticipated entry into the crowded cryptocurrency space.

Many see the new coin, which comes out next year and will allow people to buy stuff and send money over the internet and across Facebook’s FB, -1.42% social-media platform, as an endorsement of blockchain and cryptos, in general.

Strategist Bill Blain of London-based Shard Capital, which oversees more than $1 billion in assets, sees it as something more menacing:

‘I suspect Facebook is taking a position for a possible next stage of this ongoing Financial Meltdown — the complete collapse of confidence in Government Fiat money.

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