Bitcoin Is Totally Different Than Libra: Calibra Head David Marcus

Bitcoin Is Totally Different Than Libra: Calibra Head David Marcus

⁠David Marcus, the head of Facebook’s forthcoming wallet Calibra, said that he is a fan of Bitcoin (BTC), but it is totally different than the proposed Libra stablecoin.
is digital gold, Marcus Says
In a Squawk Box interview on Oct. 16, Marcus stated that he has been looking at since 2012 and considers it to be akin to digital gold.
When asked by Squawk Box co-host Joe Kernen if he owns any or other cryptocurrencies, Marcus did not answer directly but noted that he was an early fan of the major cryptocurrency. He said, “I’m a big fan of Bitcoin what I see as digital gold and totally different Libra.”
v.s. non-volatile and scalable
While treating as digital gold, Marcus stressed that the Libra project is seeking to create a non-volatile and scalable rather than provide services for a high-volatile asset such as Bitcoin. He explained:
“If there was a stable, low-volatility, scalable version of that we could use today, my life would be so much simpler. We could just focus on embedding that in the Calibra wallet.”
Stability of fiat currencies backing Libra
In the interview, the CNBC host, who is known for his maximalism, asked about Libra’s backing which will supposedly consists of a basket of major fiat currencies such as the United States dollar, euro, Japanese yen, British pound and Singapore dollar. 
Specifically, Kernen stated that Libra’s planned peg to fiat currencies may not be a good idea, as such currencies are vulnerable to devaluation. 
Marcus’ statements follow those of U.S. Representative Warren Davidson, who said that Facebook using Calibra would be a “way better idea” than creating a new asset.

See also  New crypto analytics app promises to make trading more mature

Leave a Reply

Your email address will not be published. Required fields are marked *

Want to automate your crypto Trading?
Try this new trading Robot!

Your information will be validated and you will be automatically redirected to the trading robot advanced dashboard.