The co-creator of Facebook’s Libra cryptocurrency, David Marcus says that Bitcoin is Digital Gold. He admits this fact in his recent interview with CNBC.

During the interview, David Marcus also discusses the impact of the Libra’s launch on Bitcoin.

Libra’s co-creator claimed this during the interview when he was asked about whether he owns any Bitcoins or not. David Marcus in his answer to the question simply replied in the following words:

I’ve said this for a long time. I started looking into Bitcoin in 2012. I’m a big fan of Bitcoin and it’s what I see as digital gold.

He only mentioned his liking for the Bitcoin but he did not exactly answer to the question that whether he owns bitcoin or not.

Does the creator of Libra own Bitcoin? "I'm a big fan of bitcoin and what I see as digital gold," says @DavidMarcus on #btc pic.twitter.com/Zbkfw1elHy — Squawk Box (@SquawkCNBC) October 16, 2019

Libra and Bitcoin are totally different

After that, he started comparing the world’s leading cryptocurrency Bitcoin and Facebook’s digital currency Libra and says that these two are completely different from each other.

He says that Bitcoin is considered Gold in the digital world as it has great market capitalization. But he says that BTC has the disadvantages of volatility and this is the reason that Libra is different from Bitcoin and is needed.

While discussing the use of Bitcoin as a store of value, the co-creator of Libra said:

If you’re a hard working person here in the United States that sends money back home to support your family, you send $100 and by the time people can get it out it’s $80. That’s a huge problem.

In the interview, David Marcus also speaks about the specific purpose of the Libra digital currency. He says that the main purpose of Libra is to provide a cheap digital asset with low volatility that will help the users to manage their money easily.

Facebook is Strongly moving forward with the Libra Project

Facebook is not backing out from the Libra project. Facebook is facing some regulatory issues regarding the Libra project and has lost some of its members during these critical days. But Libra is standing firmly with their Libra project.

David Marcus added this in his interview with CNBC: