Grayscale: Central Bank digital currency will neither replace nor harm scarcity, do not compromise Bitcoin
Central bank digital currencies (CBDCs) pose no threat to the Bitcoin Bitcoin value proposition; instead, they will spur its growth towards mass adoption. .
In a new report, Grayscale Investments said CBDC will never replace BTC because unlike leading cryptocurrencies, they can be inflated and manipulated by central banks.
CBDC is just a digital version of fiat currencies, unable to escape government control, adding that government-backed cryptocurrencies simply maintain the status quo.
State control is insensitive to bitcoin, an asset created to challenge the conventional financial system and return money ownership to people, beyond the reach of the state.
The CBDC report can censor unorganized addresses and central banks will continue to control monetary policy, the report examines the potential impact of state-run digital currencies. issued against the status of bitcoin.
On the surface, it seems like a digital dollar can replace Bitcoin's growth as both are digital, but in fact it does not address these main concerns, they added. .
CBDC is a digital currency issued by central banks, in part, created to disable BTC. About 25% of central banks around the world are actively exploring the possibility of issuing state-backed cryptocurrencies, but nothing closer to doing so than China.
Grayscale Investments, which manages more than $ 3.8 billion in digital assets, notes that all the similarities between CBDC and bitcoin are fake. But as more people become familiar with the digital payment infrastructure due to the successful implementation of CBDC, bitcoin will reap the benefits.
Whether or not CBDCs were successfully introduced, they reinforced the case for non-sovereign digital currencies, such as Bitcoin, by forcing organizations to consider adopting the pre-digital infrastructure. numbers, and educating users about digital assets and good money characteristics, the report stated.
Bitcoin Bitcoin is unique not only because it is digital, but because it is scarce and available for anyone to use.
The report explains that moving fatty currencies to digital infrastructure will highlight that bitcoin is special not because it is digital, but because bitcoin is a scarce currency, not compromise, open to anyone to use.
What do you think about central bank digital currencies versus bitcoin? Let us know in the comments section below.