Arthur Hayes, one of the industry’s well-known trading and crypto veteran who doubles as the Co-founder of the BitMEX exchange, has given his view on what he thinks will happen to Bitcoin if the majority of Central Bank Digital Currencies (CBDCs) is eventually launched.
According to a press release, Hayes has called the CBDC “pure evil.” His point of view is based on the notion that the CBDC will grant the government total influence over amending legislation relating to numerous subjects, like the use of Bitcoin.
He claimed that CBDCs directly infringe upon the right of individuals to self-govern fair trades with one another. He went on to say that the CBDC will affect the banks by posing an existential threat to their capacity to conduct business.
He also stated that he believes the government will be able to quickly replace fiat currency with CBDC because of the indifference of the population, bringing in a nightmare of…
