The launch of central bank digital currencies (CBDC) will increase the demand for bitcoin in the global market, analysts at Grayscale say.
They note that central bank tokens are regulated instruments. They can be applied within certain boundaries and according to the rules approved by the authorities.
Bitcoin, by contrast, retains the status of a decentralized asset that no one controls. Consequently, the holders of such an instrument are independent and can carry out operations anywhere in the world without looking back at the Central Bank, the Grayscale study emphasizes. That is why the demand for bitcoin will increase after the advent of CBDC.
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Another factor contributing to the growing popularity of BTC is people's distrust of the traditional economic infrastructure. More and more investors are abandoning fiat money and penetrating the cryptosphere, which, in their opinion, has tremendous potential.
Note that some countries have recently announced their intention to issue cryptocurrency secured by fiat money. For example, France and China are preparing to launch digital versions of the euro and the yuan.