• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: Bitcoin Price Makes History By Crossing $126,000: Options Market Forecasts Next Price Targets
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: Bitcoin Price Makes History By Crossing $126,000: Options Market Forecasts Next Price Targets
bitcoin not currency then libra what

Bitcoin Not a Currency According to Facebook’s Libra Lead

Rebecca Campbell
by Rebecca Campbell
5 years ago
·
Posted in Bitcoin News, News, News teaser
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

David Marcus, head of Facebook’s Libra project, doesn’t see Bitcoin as a form of currency, stating that it’s digital gold.


Bitcoin Not a Medium of Exchange

Marcus was speaking at the New York Times Deal Book Conference in the Big Apple yesterday when he made his remarks.

In his own words, “It’s actually not a great medium of exchange because of its volatility,” reports CNBC.

Going further, the face of the Calibra digital wallet, a Facebook subsidiary that will provide a digital wallet for Libra, noted that he sees Bitcoin as digital gold because you can hold on to it as an investment, but its volatility means that it’s not the best choice for people who need to send remittances across borders.

Libra, on the other hand, will be tied to fiat currencies such as the euro and the U.S. dollar, enabling it to remain stable.

The Push Back

That, however, hasn’t stopped the project from receiving negative criticism. Since being announced in June, Facebook founder and CEO Mark Zuckerberg and Marcus have had to make several public appearances, including facing the U.S. Senate and the House Financial Services Committee. That, however, hasn’t deterred them from continuing with what they’re trying to achieve.

Answering a question as to how they expected things to turn out, David acknowledged that they knew there would be some push back.

I think it was expected and for several reasons, he said. One is understanding that the way this is designed is not trivial. You need to invest a little time to really look into the separation between the Libra Association, which we don’t control anymore, Calibra, the wallet, which is a subsidiary of Facebook, and Facebook itself, and also the fact that this was designed more to operate as a payment system to enable people to have access to modern financial services and digital money, not really as a thing to take over the world.

Interestingly, if he were to do things differently, Marcus noted that he would emphasize the benefits of creating a new infrastructure to move money around the world for the people who need it the most. Not naming anyone in particular, he said that the idea of the creation of “money” inspires plenty of people to talk about it.

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.


Image via Shutterstock

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Rebecca Campbell

Rebecca Campbell

Follow

Full Profile

Related Posts

Retail Investors Return to Binance As Bitcoin Hits New All-Time High

Retail Investors Return to Binance As Bitcoin Hits New All-Time High

2 hours ago
Bitcoin news

The NSA Is Trying To Backdoor Bitcoin, Warns Peter Todd — Here’s How

10 hours ago
Bitcoin

Bitcoin Spot Volume Rebounds As Price Hits ATH, But Still Far Below Late-2024 Highs

12 hours ago
Bitcoin & Ethereum

Bitcoin, Ethereum Lead Record $5.95 Billion Inflows Into Crypto Funds

16 hours ago
bitcoin_btc_btcusd_optimized

Morgan Stanley Endorses Bitcoin as “Digital Gold,” Tells Advisors to Allocate Up to 4% to Crypto

18 hours ago
bitcoin price btc btcusd

Bitcoin Price Pulls Back From $125K Record High: Analysts See Path Toward $170K in Q4

22 hours ago
Please login to join discussion

Premium Sponsors

Press Releases

  • Fleet Asset Management Group Brings the Power of Cloud Crypto Mining in a Low-Carbon Package.

    Fleet Asset Management Group Brings the Power of Cloud...

    10 hours ago
  • The Quiet Market Shift Investors Might Be Missing: How Tapzi Is Challenging Institutional Favorites

    The Quiet Market Shift Investors Might Be Missing: How...

    4 days ago
  • Investors Search for Long-Term Upside in This Under-$0.01 Crypto of 2025 Tapzi

    Investors Search for Long-Term Upside in This Under-$0.01...

    4 days ago
  • MoonBull Presale Explodes with over 11,800% Projected ROI as Uptober Sends the Market Soaring

    MoonBull Presale Explodes with over 11,800% Projected ROI...

    4 days ago
  • 狗狗幣引領『Uptober』Meme...

    5 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.