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Diem stablecoin co-founder praises Bitcoin for censorship resistance


Shortly after Meta, formerly Facebook, announced its decision to abandon its stablecoin Diem. Several of the project’s major figures have become increasingly vocal regarding Bitcoin’s uncensorability (BTC).

In fact, on Tuesday, David Marcus, a co-founder of Diem, formerly known as Libra, said that Bitcoin would be the most valuable asset in the next two decades on Twitter.

“It’s become evident to me that Bitcoin will be the only asset. And L1 still there in 20+ years with increasing compounding relevance over time,” Marcus added. Noting that BTC is “really leaderless” and “censorship-resistant.”

“In essence,” he continued, “it’s one-of-a-kind and will never experience duplication.”

Marcus also stated that the second-largest cryptocurrency is yet “to be determined”. And will be associated with a separate use case. He stated that while Ether (ETH) is currently “in the lead,” other cryptocurrencies such as Solana (SOL) are “nipping at their heels.”

Marcus has long been a Bitcoin supporter

Marcus was the former head of Meta’s cryptocurrency and fintech section Novi until late 2021, when he stepped down. Along with Morgan Beller and Kevin Weil, he founded the Diem stablecoin.

Marcus has long been a Bitcoin supporter, despite his efforts on Meta’s stablecoin. He is “one of the first prominent Silicon Valley CEOs to adopt and endorse Bitcoin,” according to some industry insiders. Besides, Marcus called Bitcoin “digital gold” and stated he was a “huge fan” of it in 2019.

Marcus isn’t the only Facebook executive who thinks Bitcoin is a good idea. In May 2021, Mark Zuckerberg, the co-founder and CEO of Facebook, hinted at being a Bitcoin bull by naming his pet goats Max and Bitcoin.

Marcus’ recent comments come after Meta announced the end of its digital currency project Diem. Which it had started in 2019.

Following this, some famous Bitcoin supporters, like Twitter founder Jack Dorsey, claimed that Diem was a waste of time and effort, and that the internet giant could have instead focused on Bitcoin.

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