In 1976, the US government officially took the dollar off the gold standard. From this point, the international monetary system was made of fiat money only. As a result, governments were able to print money out of thin air. Something we all got too familiar with in the past years.
Bitcoin is consistently hitting ATHs in Argentina and Turkey. Maybe not because #bitcoin is going full bull mode, but because their native currency is being inflated into oblivion. The Russian Ruble is moving in the same direction.
It goes to show how important it is to have a (global) currency that is not controlled and inflated by a central entity. This is one of the reasons why decentralization is so important. and why we shouldn't forget about Satoshi's vision.
CBDCs, do not even come close. The other day the Singaporean Central Bank proudly presented its framework for its national stable. In the document, it was mentioned that a 3-day process time is "timely" for stablecoins. All that means is that there's a ton of centralization behind the scenes and that these stables are no better than fiat. You will still lose your purchasing power over time.
We need $BTC .
Cheers
P.S. My favorite quote?: Bitcoin will go up because fiat is the bubble
