Facebook's cryptocurrency is "bad news for Bitcoin" says Peter Schiff

Well known gold bug and Bitcoin skeptic, Peter Schiff has tweeted that Facebook’s Libra will beat Bitcoin in terms of stability, ease of use and fees. Anthony Pompliano, co-founder and partner at Morgan Creek Digital, disagrees. He argues that the two may actually complement each other.
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While it's been confirmed that Facebook’s stablecoin will be transferable between Facebook products with zero fees, it’s still a matter of speculation whether it proves a threat to Bitcoin. Many in the crypto space argue against this, stating Libra poses more of a threat to cryptocurrencies like Ripple’s XRP.
Pomp argues that Schiff has it backward:
Schiff fired back, stating: 
Pomp then proposed a bet for 10 BTC on whether bitcoin hits $100,000 in the next five years. Schiff decided against the bet, however, stating that if he loses he'll owe Pomp $1 million, whereas if he wins, Pomp owes him $500. 
Many in the crypto space feel that Libra targets an entirely different audience, one that Bitcoin was never meant to appeal to. On this note, Andreas Antonopoulos, one of the foremost experts on everything Bitcoin and blockchain, recently stated that Facebook's debut into the financial sector is more of a threat to traditional banks than Bitcoin.
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