The Shift in Perspective After Diem’s Demise

In a surprising twist, shortly after Meta (formerly Facebook) waved goodbye to its stablecoin project, Diem, a few notable figures from the venture have jumped onto the Bitcoin bandwagon. Notably, David Marcus, co-founder of Diem, took to Twitter to proclaim Bitcoin’s imminent reign as the ultimate digital asset over the next two decades.

David Marcus: A Bold Prediction

On February 1, 2022, Marcus tweeted his conviction that #Bitcoin is poised to become the only enduring asset in the coming years, gaining more significance over time. He states, “It’s become clear to me that Bitcoin will be the one asset and L1 still around in 20+ years with increased compounding relevance over time.” Clearly, he’s not holding back!

What Makes Bitcoin Unique?

Marcus emphasized that Bitcoin is not just any cryptocurrency, but rather a “truly leaderless” and “censorship-resistant” financial innovation. He believes its uniqueness is unmatched, making it irreplicable and ensuring it maintains a strong foothold in the ever-evolving crypto landscape.

Who Will Claim the Number Two Spot?

While Bitcoin seems secured in its throne, Marcus has expressed uncertainty about which cryptocurrency might play the runner-up role. He acknowledged Ethereum as the current frontrunner, although contenders like Solana are hot on its heels. He mused that the secondary position will rely on entirely different use cases yet to be identified.

Marcus’s Crypto Journey

Having served as the head of Meta’s cryptocurrency efforts and a core architect of Diem, Marcus has always had a soft spot for Bitcoin, highlighting its value as “digital gold.” In fact, he’s been such a fan that back in 2019, he declared himself a big supporter of Bitcoin!

Support from Silicon Valley’s Elite

Marcus isn’t traversing this Bitcoin terrain alone. Facebook’s very own co-founder Mark Zuckerberg has showcased a playful affection for Bitcoin, naming his goats Max and Bitcoin—talk about commitment! As the crypto community reflects on Diem’s closure, Bitcoin bulls like Twitter’s Jack Dorsey have criticized the initiative as misplaced focus. They argue Meta could have embraced the power of Bitcoin instead.