@joahimmrykag
From a macro liquidity standpoint, CBDCs could reduce speculative inflows into crypto markets, including Bitcoin. If CBDCs integrate seamlessly with traditional financial systems and offer attractive yields or policy-linked incentives, they may absorb liquidity that might otherwise flow into crypto as a settlement or store-of-value alternative. This creates competitive pressure on BTC by narrowing the pool of marginal capital seeking non-sovereign assets.
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