Before we dive into today’s Cut

If you tuned into my colleague Teeka Tiwari’s Pocket Change Millionaire Summit yesterday, thank you for showing up.

Teeka went live with the details of how putting 50 cents into a “sweetheart” CBD deal could rocket beyond $20 a share.

But if you missed Teeka’s big reveal, don’t worry…

He’s made a replay available to you. But there are a limited number of spots available, so don’t delay.

Now, onto our dispatch…

“Bitcoin’s wild ride is about to get wilder…”

That’s how I (Chris) put it in the June 18 Daily Cut.

That’s the day Facebook officially unveiled plans to launch its own “cryptocurrency,” Libra.


As investors digested Facebook’s news, bitcoin shot up from $9,100 to a peak of $13,850… before tumbling back down to $10,800.

But that was an easy call to make…

The world’s largest social media company announces it’s launching a cryptocurrency to its 2.6 billion users – it doesn’t take a big leap to see that it’s going to roil the crypto market.

But the guy who nailed it on bitcoin was Teeka…

At our inaugural Legacy Research Investment Summit in Bermuda last October, Teeka told attendees to buy bitcoin.

There were a few gasps in the audience. At the time, the “Crypto Winter” was in full swing. Bitcoin had just fallen 68% over the preceding nine months.

Today, bitcoin is 66% higher.

[Quick reminder: The second annual Legacy Investment Summit is happening from September 23-25 in sunny California. Reserve your spot for this year’s event here.]

Teeka says Libra will be a powerful new tailwind for the crypto market…

In January, in these pages, Teeka outlined his “market script” for cryptos for 2019.

He said this year would be the year that big institutions and corporations start to get involved in the crypto market.

And Facebook’s Libra launch is just one example of that script playing out. Here’s Teeka on what Libra means for crypto investors…

Within the next 12 months, we’ll see Facebook rolling out its new coin, Libra. I believe the impact will be massive.

The social network has 2.6 billion users – 35% of the world’s population. They’re about to be trained in how to use what Facebook is calling a “cryptocurrency.”

To be clear, Libra is not a real cryptocurrency. But the company is riding the coattails of the surge of interest in crypto technology. This will bring crypto to mom and pop – a huge global audience that ordinarily wouldn’t be exposed to it.

But what’s to say that Libra won’t steal market share from bitcoin and other cryptos?

In a word: centralization…

For more insight into Libra’s future… and the threat (if any) it poses to bitcoin… I reached out to another crypto investing expert on the Legacy team, Marco Wutzer.

Marco was in Zug, Switzerland – what’s known as “Crypto Valley” – when I caught up with him. He was there doing research for his Disruptive Profits readers.

And he told me the idea that Libra is a threat to bitcoin is a joke. Marco…

Bitcoin is attractive because it’s a decentralized, borderless, open, tamperproof, censorship-resistant currency. Libra is none of those things.

Facebook wants a bunch of big corporations to run Libra by way of the “Libra Association.” The group will be based here in Switzerland. And its members already include Uber, Lyft, Visa, Mastercard, and Vodafone.

Using a Swiss foundation with a few other huge corporations as the controlling institution for Libra doesn’t make it decentralized. Despite all of Facebook’s hype, it’s just a different version of a bank account or a mobile payment app, such as PayPal or Venmo.

Also, Facebook says its Libra digital wallet – which will be called Calibra – will monitor accounts for “unusual behavior.” So your funds are completely at the mercy of Facebook and its corporate partners.

It’s why Marco and Teeka believe there’s huge upside ahead in truly decentralized cryptos such as bitcoin.

As mom and pop are introduced to the crypto market through Libra… a whole new wave of crypto adoption will begin.



Chris Lowe
June 27, 2019
Dublin, Ireland