The Facebook founder and CEO, Mark Zuckerberg, announced yesterday that he had called "Bitcoin" one of his goats. It seemed to be an innocent declaration that the crypto-sphere had nevertheless spoken about its deeper significance. While some have rationalized this as Facebook's support for Bitcoin, some have proposed weakening hypotheses.

                     Bitcoin: Mark Zuckerberg’s Goat

On Facebook yesterday, Zuckerberg announced that one of his goats is called "Bitcoin." This article, which is normally funny, prompted the cryptocurrency community to come up with bizarre theories. Although some users laughed and shared their memes as a result, others believed the post had a deeper meaning.

Some users interpreted this as a sign that Facebook has followed in the footsteps of Tesla and Microstrategy in purchasing Bitcoin as a hedge and adding it to its cash reserves. Last month, there were reports about this, but Facebook debunked them during their most recent earnings call, denying that it had purchased bitcoin or other cryptocurrencies.

According to a story told by Jack Dorsey, Zuckerberg's goats were not only pets but also food. He explained how Zuckerberg would use a stun gun to immobilize the animal before killing it with a knife. Many users remembered the gruesome incident and joked that Zuckerberg could destroy Bitcoin at any moment if he really wanted to.

                      The Crypto Journey of Facebook

Aside from jokes, Facebook cryptocurrency inroads were not very effective. The company has met with resistance from the global regulatory community to establish its own crypto-current, which was initially named Libra and subsequently rebranded to Diem. They argue that the social media giant has too much influence to provide a special Facebook cryptograph.

Started with the help of the big supporters, the idea of Libra lost its momentum. It was abandoned to become a stable clock basket by some of its most prominent backers, such as Visa, MasterCard, and eBay. The concern of national and foreign legislators was thus alleviated.

Zuckerberg was invited to Congress to clarify what his plan was inside and out. He was severely reacted by politicians, such as the Chairwoman Maxine Waters of the House Financial Service Committee. She blamed Facebook for being unable to solve the current problems and asked them to avoid developing a regulatory system that covered the scope of Libra.

What do you think of Bitcoin, the pet goat of Mark Zuckerberg? Tell us in the following comment section.