Calibra CEO David Marcus believes Bitcoin is not a currency. Speaking at the DealBook Conference, he said he believes Bitcoin, as a financial asset rather than a currency, shows more gold characteristics. He even called it "digital gold." He said that the dramatic fluctuations in the value of the Bitcoin market have reduced its reliability as a payment method. He believes that a 20% drop in a day will prevent people from using BTC across borders, which is why regulators have not pursued it because it is not seen as a medium of exchange.