I saw this news and it got me thinking if the growth of Bitcoin in the United States is gonna be hindered since the government plans on introducing the digital dollar. Though I've no idea how it's gonna work.
Quote from: copied from
https://www.msn.com/en-us/money/markets/president-biden-gives-crypto-a-bitter-taste-of-what-lies-ahead/ar-AA1207rpThe White House is urging the Federal Reserve to explore the launch of a digital dollar, or Central Bank Digital Currency, which would be controlled by the Fed. This identical digital twin of the dollar would be entirely regulated.
A U.S. digital dollar "facilitates faster cross-border transactions and is environmentally endurable," the Biden government explained. "It could facilitate financial inclusion and equity by enabling access for a broad set of consumers."
It could also "protect against cyberbullying and operational risks, safeguard the privacy of sensitive data, and minimize risks of illicit financial transactions."
In addition, the White House believes a U.S. digital dollar "could also help preserve U.S. global financial leadership, and support the effectiveness of embargoes."
I don't think this will be that much of an issue since the so-called "Digital Dollar" is still gonna be governed by the Federal Government which makes it not decentralized, unlike Bitcoin.
But what do you guess?
Any of these things like CBDCs and other products by the central banks the governments are all centralized and these are not even cryptocurrencies and these CBDCs cannot be used like bitcoin or other cryptocurrencies. People use bitcoin because bitcoin is decentralized and any government cannot manipulate this to the organization also there won't be any their part element on the transaction while you cannot have this when you are using CBDCs so the CBDCs cannot threaten bitcoin.