The biggest cryptocurrency fan says that national cryptocurrencies are doomed to fail

Michael Say lor, Chairman of the Investment Committee, former head of MicroStrategy, and biggest bitcoin fan, shared his thoughts on CBDC. As Saylor wrote on his Twitter page, national cryptocurrencies are unstable and doomed to fail, and BTC will be a better form of money because of its limited time and energy.

A comprehensive thesis by @dergigi explaining why virtual currencies issued by authorities are unstable and certain to fail, and why #Bitcoin is superior due to its linkage to scarce time & energy, and destined to succeed as the best form of money.https://t.co/tJTNMEgrQu

— Michael Saylor⚡️ (@saylor) October 9, 2022

A representative of MicroStrategy distributed an article by a user under the nickname dergigi, which reads: «The difference between play money and fiat money is one of scale, not nature. Both assets are virtual simulations that are connected to reality. With the introduction of CBDC, both will also be fully digital.»

Analysts of the American research center Bitcoin Policy also drew attention to the significant advantages of bitcoin over national cryptocurrencies, urging the US authorities to abandon the development of CB DCs in favor of using stablecoins and bitcoin. «CBDCs will essentially give governments access to every transaction made by any person anywhere in the world. It’s only a matter of time before transaction data is available to everyone in the world, as government IT infrastructure is a target of increasingly frequent hacker attacks,» said Natalie Smolenski, Executive Director of the Texas Bitcoin Foundation, and Dan Held, former Head of Development at Kraken.