David Marcus Suggests Bitcoin Isn’t a Currency; Compares It to Gold

November 8, 2019 | By | Reply | 15 Readers More


David Marcus – the head of Facebook’s blockchain division – had some unusual things to say about bitcoin.

Marcus: BTC Isn’t a Currency

In a recent interview with CNBC, the Facebook boss explained that he didn’t think BTC was a currency, and instead claims it has similarities with precious metals which cannot necessarily be used to purchase items but are a great store of value.

In the interview, Marcus explains:

I don’t think of bitcoin as a currency. It’s not a great medium of exchange because of its volatility. I see it as digital gold… It’s an investment class that’s decorrelated from the rest of the market. Why feel threatened by that?

On one hand, Marcus’ words are rather encouraging and flattering. Bitcoin has been known to stay stable during times of economic strife. Remember last August when the trade war between China and the U.S. really started to…

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