The co-founder of BitMEX marked the differences between Bitcoin and CBDCs, arguing the power of central banks and governments with respect to their digital currencies: “The other big difference between CBDCs and current electronic cash is that, Due to the innovations that blockchain technology offers, the government can program its CBDCs to be 100% under its control. It is this additional level of control that will allow them to solve their double inflation problem.”
Another point to be highlighted by Hayes is related to the stablecoins that he considered to be doomed to fail: “the reason stablecoins exist and are popular is because there is no competing CBDC. If the Federal Reserve implements FedCoin, there will be very little reason to use any of these solutions, since FedCoin will be backed by the government and can never go bankrupt.”
Hayes assures that a stage of more regulations is coming
“I am also bullish because today I still have the ability to buy the ultimate antidote: Bitcoin. This window will not last forever. Capital controls are coming, and when all money is digital and certain transactions are not allowed, the ability to buy Bitcoin will quickly disappear.”
Finally, he highlighted: “The best day to have bought Bitcoin was yesterday.”
Source: Ambito
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