Halfway Between a Stablecoin and a PayPal Competitor, Facebook’s Diem Is Not a Threat for Bitcoin

Bitcoin is the real signal.

Announced with great fanfare in June 2019, Facebook's Libra digital currency project quickly triggered the wrath of the world's major economic powers. Facebook's Libra was initially intended to be a stablecoin backed by a basket of the world's major currencies (U.S. dollar, euro, yen, pound sterling, ...).

With the Libra Association, Facebook wanted to s…