It’s been just revealed that MicroStrategy’s Michael Saylor revealed the fact that the banking system fights against CBDCs. Check out the latest reports about this below.
Saylor addresses the fight against CBDCs
In a recent interview with Kitco News, a prominent Bitcoin (BTC) advocate expressed their belief that the banking industry will oppose the introduction of a CBDC, seeing it as a threat to their control over the financial sector.
“The CBDC would be an example of disintermediating all the banks starting with the big banks down all the banks and then what is their business? So I think that there will be alarmists that will say, ‘The CBDC is coming, get ready.’”
According to Saylor, the outlook for USD-backed stablecoins is not promising.
He believes that introducing a stablecoin as a digital currency could be seen as a challenge to political institutions’ power, making it unlikely to happen.
He anticipates that regulators will take steps to phase out the stablecoin industry over time.
“The regulators are winding them down like the Wells Notice, the BUSD, like the Custodia denial letter, like the move by the Canadian regulators to prevent you from trading stablecoins on crypto exchanges in Canada, like the denial of Tether in the US,” he said.
He continued and explained the following:
“I think the regulators will move to clamp down on any non-KYC (know your customer) digital dollars.”
Bitcoin has been garnering attention recently for its optimistic predictions. One such prediction comes from Arthur Hayes, the founder of BitMEX, who believes that the macroeconomic conditions are turning in favor of Bitcoin (BTC).
Bitcoin price prediction
As of writing this article, Bitcoin (BTC) is currently trading positively and is valued at $26,710. An influential crypto analyst has expressed optimism that BTC could reach new all-time highs this year.
The pseudonymous analyst, Credible Crypto, has cited historical precedent as a reason for predicting that Bitcoin may achieve a fresh all-time high.