Susquehanna’s Bart Smith: Bitcoin Price Spike Not Driven by Libra

There’s no shortage of catalysts behind bitcoin’s weekend rally beyond $11,200. Institutional capital is at long last entering, the bitcoin supply halving event is nearing, and major players including the likes of Fidelity and Bakkt are building much-needed infrastructure. Considering that the crypto market rally overlapped with Facebook’s Libra development, however, it’s easy to draw the conclusion that the stablecoin fueled the bitcoin rally. Not so fast, says Susquehan