- The report alleges that Bitcoin fails to fulfill all of the characterisitics of money.
- It also attacks Bitcoin as an energy-guzzling monster.
According to The White House, CBDCs are better than Bitcoin and represents the possibility of introducing a digital form of money.
- The report claims, “A potential U.S. CBDC coiuld also help support other policy goals.”
- It continues, it “could help ensure that such payment systems are aligned with the principles of human rights, democratic values, and privacy.”
What Biden and The White House fail to mention is how exactly they define those principles.