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Facebook Crypto Boss: Bitcoin is a Digital Gold Not A Currency




  • I don't think of Bitcoin as a currency. It's actually not a great medium of exchange because of its volatility.
  • I see it as Digital Gold', according to the Facebook executive.

Facebook Crypto boss said Bitcoin is a digital gold not a currency
Facebook Crypto Boss: David Marcus

The head of Facebook's Crypto wallet calibration, David Marcus said he doesn't recognize Bitcoin as currency. "It's actually not a great medium of exchange because of its volatility".

Speaking at the New York Times DealBook conference in New York. "I see it as digital gold," David Marcus said Bitcoin is like gold because you can hold on to it as an investment just as people do with actual gold, but the drastic upswings and dips that Bitcoin goes through makes it a bad option for people who need a system to send remittances across borders.

That is a key market that Facebook is targeting with its Libra Cryptocurrency and Calibration digital wallet.

Unlike Bitcoin, Libra's value will be tied to currencies like the U.S. dollar and the Euro, which will help it remain stable.

David Marcus admitted that exposure to Facebook digital currency would inevitably provide an avenue to Bitcoin and other cryptocurrencies.


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