How likely do YOU think this scenario is? Although you might say this is only speculation, IT IS A FACT that these countries are working on cryptocurrencies of their own.
Yes, they will be seeing bitcoin as a competitor. Most of them have already created their own cryptocurrencies or tried creating it but it never worked. Chinese digital Yuan was being hyped for a long time and now nobody talks about it, we can’t even remember whether that exists or not. That’s because nobody is ready to make use of any of these, people just prefer the normal decentralized cryptocurrencies that we are using like bitcoin, and ETH, they are not interested the digital coins that these governments wants to offer. They should rest please.