The chief executive officer of blockchain technology company Blockstream says people are better off using fiat currencies or stablecoins than holding central bank digital currencies (CBDCs).
Adam Back warns his 487,800 Twitter followers that CBDCs allow the powers that be to seize and control a person’s wealth.
“Bitcoin is apolitical, bearer, unseizable money, and that is what matters. Stablecoins [are greater than] CBDCs. In fact, CBDCs are systems of control, worse than bank accounts, certainly worse than paper cash, worse than stablecoins, and much worse than Bitcoin.”
As for Bitcoin (BTC), Back says that the Lindy effect will eventually have an impact on the market capitalization of the king crypto en route to displacing gold as one of the top store-of-value assets.
“Bitcoin is displacing