Bitcoin is digital gold, but Libra serves different purpose, says David Marcus – Libra News

Facebook executive and Libra head David Marcus said that bitcoin is digital gold, but Facebook's Libra is designed for a different purpose. Marcus is still positive about Libra's launch, which is scheduled next year. Earlier, many high profile backers pulled out from the Libra Association.

The last few weeks have been rough for Facebook’s crypto project. Amid constant regulatory scrutiny, several high profile backers pulled the plug on the social media giant’s crypto project. In an interview with CNBC, when the head of Calibra, David Marcus was asked if he owns any bitcoin or other cryptocurrencies, he replied that he is a fan of the leading cryptocurrency and called it the digital coin.

David Marcus further added that Libra serves a different purpose in the market. He said that Libra would work as a low-volatility digital asset to help people better manage their money. As reported earlier, David Marcus said that he still expects to get over 100 banks and financial firms to get on board once they address the regulatory concerns.

The Calibra head asserted that there is still a keen interest in Libra. He claimed that at least 1,600 organizations around the world had expressed an interest in becoming members. Out of which only 80 met the high bar, he added.

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Jai Pratap
Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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