Facebook rejected the use of bitcoin as a means of payment

David Marcus, head of Novi cryptocurrency wallet development, called the main cryptocurrency a good investment asset, which is not suitable for paying for goods and services because of the high volatility
Facebook rejected the use of bitcoin as a means of payment

David Marcus, head of Facebook Novi, said in an interview with Bloomberg that the company is not considering using bitcoin as a means of payment, but considers it a good investment asset. The high volatility of the major cryptocurrency, Marcus said, makes it impossible to use it for payments.

“If you’re sending money around the world, you can’t have the value of the asset you’re sending go down 20% in a day or 10% in a day. That variability is not acceptable for payments”, Marcus explained.

The head of Facebook’s Novi division also noted that the company is considering the use of non-transferable tokens (NFT).

Novi is a division of Facebook that is developing a cryptocurrency wallet of the same name. Last week, Marcus published an article in which he said that the development of Novi has already been completed and soon the cryptocurrency wallet will be brought to market.

In July, it became known that the social network Twitter would support bitcoin. According to CEO Jack Dorsey, the first cryptocurrency will be integrated into Twitter’s existing products and services, including paid subscriptions, commerce and the ability to support authors.

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