Bitcoin Not a Currency According to Libra Lead from Facebook
David Marcus, head of the Libra project at Facebook, doesn't see Bitcoin as a currency form, saying it's digital gold.
Bitcoin Not a Medium of Exchange
Marcus spoke yesterday at the Big Apple's New York Times Deal Book Conference when he made his remarks.
In his own words, "Because of its volatility, it's not really a great medium of exchange," reports CNBC.
Furthermore, the face of Calibra's digital wallet, a Facebook subsidiary that will provide Libra with a digital wallet, noted that he sees Bitcoin as digital gold because you can hold on to it as an investment, but its volatility means that it is not the best choice for people who need to send cross-border remittances.
On the other hand, Libra will be linked to fiat currencies like the euro and the US dollar, which will allow it to remain stable.
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What do you think of Marcus’ comments? If he doesn’t consider Bitcoin as a form of currency, what does that make Libra? Let us know in the comments below.