Diem stablecoin co-founder praises Bitcoin for censorship resistance

Shortly aft Meta, formerly Facebook, officially gave up connected its stablecoin Diem, immoderate of the cardinal radical successful the task person go progressively vocal astir the uncensorable quality of Bitcoin (BTC).

David Marcus, a co-founder of Diem, primitively known arsenic Libra, took to Twitter connected Tuesday to foretell that Bitcoin volition beryllium the fig 1 plus successful the adjacent 2 decades.

It’s go wide to maine that #Bitcoin volition beryllium the 1 plus and L1 inactive astir successful 20+ years with accrued compounding relevance implicit time. The #2 slot (for a antithetic usage case) is inactive tbd. #Ethereum is successful the pb for now, but #Solana and others nipping astatine their heels. 1/2

— David Marcus - dmarcus.eth (@davidmarcus) February 1, 2022

“It’s go wide to maine that Bitcoin volition beryllium the 1 plus and L1 inactive astir successful 20+ years with accrued compounding relevance implicit time,” Marcus wrote, adding that BTC is “truly leaderless” and “censorship resistant.”

“In essence, it’s unsocial and cannot ever beryllium replicated,” helium added.

Marcus besides went connected to accidental that the second-biggest cryptocurrency is yet “to beryllium determined” and volition beryllium related to a antithetic usage case. He suggested that Ether (ETH) is “in the pb for now,” but different cryptocurrencies similar Solana (SOL) are “nipping astatine their heels.”

Marcus is erstwhile caput of Meta’s cryptocurrency and fintech portion Novi, stepping down from his position successful precocious 2021. He co-founded the Diem stablecoin with Morgan Beller and Kevin Weil.

Despite his hard enactment connected Meta’s stablecoin, Marcus has been a known instrumentality of Bitcoin. According to immoderate manufacture observers, Marcus is considered “one of the archetypal apical Silicon Valley executives to follow and enactment Bitcoin.” In 2019, Marcus said that helium was a “big instrumentality of Bitcoin,” calling it “digital gold.”

Does the creator of Libra ain Bitcoin? "I'm a large instrumentality of bitcoin and what I spot arsenic integer gold," says @DavidMarcus connected #btc pic.twitter.com/Zbkfw1elHy

— Squawk Box (@SquawkCNBC) October 16, 2019

Marcus is not the lone Facebook exec who is simply a instrumentality of Bitcoin. Facebook co-founder and CEO Mark Zuckerberg hinted astatine being a Bitcoin bull successful May 2021 by calling his favored goats Max and Bitcoin.

Related: Meta joins patent alliance, pledges escaped crypto patents for all

Marcus’ latest remarks came soon aft Meta announced the closure of its integer currency task Diem aft initiating the stablecoin task successful 2019.

Some salient Bitcoin bulls similar Twitter laminitis Jack Dorsey subsequently argued that Diem was a discarded of clip and effort, stressing that the tech elephantine should person focused connected Bitcoin instead.