It doesn't matter if the price drops, people prefer #Bitcoin over #CBDC

As rejection of central bank digital currencies increases, bitcoin users increase by 34% so far in 2024.

“Bitcoin is an opportunity to escape the tyranny of money controlled by central banks,” said Satoshi Nakamoto in 2009 when launching the technology that gave life to the digital currency that now dominates the market.  

It was a premonitory phrase, as it becomes more and more real with time.

Fifteen years after the Nakamoto ruling, the world's central banks are striving to copy and offer the benefits of the decentralized network through the so-called central bank digital currencies (CBDCs), without achieving positive results. 

Recent information proves it.

Bahamas, the Caribbean island that pioneered the launch of a CBDC, decided a few days ago to force banks to offer services with the sand dollar, in an attempt to increase adoption levels.  

The CBDC currently represents less than 1% of the currencies in circulation in the archipelago, the Bahamas central bank admits, adding that sand dollar wallet refills fell by 75% in just eight months. 

Something similar has happened in Jamaica with Jam-Dex, and in the Eastern Caribbean islands with DCash. In the latter jurisdiction, the project was even suspended due to low adoption and technical problems.

It is currently in the process of “reconstruction.”  

The same has happened in Nigeria with the eNaira and in China with the digital yuan. Although the Asian giant stands out for the strong boost it has given to its CBDC in the last 4 years, the low levels of adoption have driven a change in strategy

This is why the digital yuan is now emerging more as a geopolitical tool to manage international trade, in the midst of a global de-dollarization process, than as a payment alternative or refuge of value for ordinary people. $BTC