Central Bank Digital Currencies Are Not a Replacement for Bitcoin

[Nostoman]

Leading Bitcoin fund manager Grayscale Investments explains in its recent report that viewing CBDC as a Bitcoin replacement is incorrect.
Leading cryptocurrency fund manager Grayscale Investments explained some fundamental differences in the nature of central bank digital currencies (CBDC) and Bitcoin (BTC).

In a recent report, Grayscale suggests that CBDCs are an upgrade to the traditional digital payment infrastructure, while Bitcoin is an upgraded version of money itself. The document reads:
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[Noverteno]

Stable coins of the central banks of states, it is the digitized ordinary currency of these states. Therefore, these stable coins will first of all squeeze out ordinary currency from circulation, including paper money. Stable state coins can only compete with bitcoin as a means of payment. However, there are still a number of functions in Bitcoin that stable state coins cannot influence.

[Alcor]

Stable coins of the central banks of states do not directly compete with a decentralized cryptocurrency, including bitcoin. This is the digitized ordinary currency of states, which will always have the price of the currency or group of currencies with which a stable coin is provided. In a sense, stable state coins can compete with a decentralized cryptocurrency as a means of payment. Here we will need to observe this, since such a practice does not yet exist.