Some may fear that a government-issued cryptocurrency would eventually supplant Bitcoin. This is absurd. It merely substitutes a blockchain for the wire transfer of a fiat currency. It precludes a really free exchange of value between any two random locations on the planet without the intervention of a third party. A government-issued cryptocurrency will inherit all of the fiat currency's flaws. It will squander energy as a result of perpetual inflation and regulation.
Of course they cannot compete against bitcoin, government issued cryptocurrencies doesn’t stand chance against Bitcoin itself. No matter how hard the government are going to try to force people to make use of their own digital currency which is paired with the Fiat, it is not going to be able to eliminate Bitcoin completely, they wouldn’t even come close to it at all, because Bitcoin will continue to trend and a lot of people will continue making use of Bitcoin no matter what is being said.
So, Bitcoin will always continue to exist and we even have much followers and users more than any currency that any government around the world is going to issue.