Grayscale Report: CBDCs Could Further Push Bitcoin (BTC) Adoption

In brief:

  • The discussion surrounding Central Bank Digital Currencies has gathered steam since COVID19 was declared a pandemic.

  • The team at Grayscale suggests the launch of CBDCs will provide a gateway for further Bitcoin adoption.

  • China is the first country to pilot the use of its very own Digital Yuan.

  • All bets are on the United States creating a Digital Dollar.

In a recent report, the team at Grayscale scale has postulated that the launch of Central Bank Digital Currencies (CBDCs) will further increase the adoption of Bitcoin (BTC). According to Grayscale, CBDCs will facilitate further Bitcoin adoption by providing the infrastructure and education that would usher in new users of BTC. Additionally, the report pointed out that the scarcity of BTC would highlight the fact that Bitcoin is special and different from fiat currencies. Read More...

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