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Facebook's cryptocurrency could be a $19 billion revenue opportunity, Barclays says

Mar 11, 2019😶Neutral

One Wall Street firm sees major upside for Facebook if its secretive cryptocurrency plan works out.

The social network is reportedly developing a cryptocurrency that could be part of a multibillion-dollar revenue opportunity, Barclays internet analyst Ross Sandler said in a note to clients Monday.

Sandler forecasted as much as $19 billion in additional revenue by 2021 from "Facebook Coin." Conservatively, the firm sees a base-case of an incremental $3 billion in revenue from a successful cryptocurrency implementation.

"Merely establishing this revenue stream starts to change the story for Facebook shares in our view," Sandler said.

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