Adam Back, CEO of Blockstream and HashCash, has said: "Nothing is above Bitcoin, no Central Bank Digital Currency, no stable coins."
He continued that: "I think that blockchains are more about permissionless, uncensorable usage and free market money. I think while it is possible and useful for some use cases, like crypto trading, to have stable coins, they inherently fall short of Bitcoin as they have custody risk, and if there is a central bank underwriting also traditional establishment interests reflected in the operation which may look unattractive to users."
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https://cointelegraph.com/news/exclusive-nothing-is-above-bitcoin-no-cbdc-no-stablecoins-says-blockstream-ceo-adam-backBitcoin has been on the top for so long and amidst all the crisis and downfall it experienced, there was still no other cryptocurrency that was able to surpass its price. It became the setter of the value for crypto and most of altcoins go with its flow most of the time. Bitcoin has a huge potential in the future and your assumptions will not be able to stop it. It may look bad right now but as time passes by, for sure it will regain its high value or get higher than ever. For all the bitcoin enthusiasts, let us all keep on believing and hoping for the best for bitcoin.