Central Bank's Lu Lei: The closer Bitcoin gets to being an asset, the further it is from being a widely circulating currency.

According to a report from Golden Finance, Lu Lei, the Deputy Governor of the People's Bank of China, stated in the preface he wrote for (Monetary Theory) that the urgent issue facing major developed economies is 'saving central banks from the hands of central bankers.' Although this idea is by no means the current central bank digital currency (CBDC), as I believe CBDCs do not fundamentally change the institutional implications of monetary increments, is there a digital currency that can overcome the impacts of various digital assets, achieve the effects of stablecoins, and maintain the existence of sovereign currencies (addressing the issue of currency unification in the Euro but fiscal decentralization)? Currently, digital assets are following the old path of the gold standard, and the concept of stablecoins is nothing more than a practical proposal of the 'soft version' of optimal currency area theory. In the field of monetary economics' predictions and practices, there are two highly respected figures—Robert Mundell, who has just passed away, and Satoshi Nakamoto, whose identity remains unknown. The latter has watched helplessly as the Bitcoin he created has evolved into an extremely expensive digital asset. Currently, the energy consumed globally each year to mine the last 2 million coins is enough to power over a hundred million people for more than a year. According to the marginal cost pricing method, the closer Bitcoin gets to being an asset, the further it is from being a widely circulating currency.