Bitcoin's status as a safe-haven asset may face challenges from central bank digital currencies (CBDCs). CBDCs, backed by governments, offer stability and trust, potentially attracting investors during economic uncertainty. Unlike Bitcoin, CBDCs are centralized, regulated, and tied to fiat, reducing volatility—a key draw for risk-averse investors. However, Bitcoin’s decentralized nature, limited supply, and independence from government control appeal to those wary of centralized systems. CBDCs could erode Bitcoin’s appeal if they gain widespread adoption, especially in crises, but Bitcoin’s unique attributes—privacy, censorship resistance, and store-of-value potential—may sustain its niche. The impact depends on CBDC implementation, public trust, and Bitcoin’s ability to maintain its narrative as "digital gold."