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No, CBDCs will not end American freedom

In this clip from “The Future of Fintech” on Motley Fool live, recorded on February 10Motley Fool contributor Jason Hall discusses an opinion piece on cryptocurrency and authoritarianism.

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Jason Hall: Foolish Phoenix dropped a link to a Newsweek article. Here is the title. The headline is that CBDCs, essentially government digital currencies, will be the end of American freedom. This is an opinion piece. I won’t even go into the details of the article. Besides, basically saying that if the Fed adopts a digital currency, it’s the government on a safe path to authoritarianism. Always follow the money with this stuff. Aubrey Strobel, the author of this article, is Lolli’s communications manager. Do you know what Lolli does? They operate a Bitcoin (CRYPTO: BTC) rewards platform. Digital currency, as Will said and I think Matt, you also implied, will be a big competitor to Bitcoin and other cryptocurrencies. This is a very strong message for someone whose business would be very disrupted if the federal government did this. I’m not going to touch politics. Always follow the money with opinion pieces. Who wrote it and why would they have that opinion? In this case, it’s the story of Lolli’s business. I think it is important.

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Jason Hall owns Bitcoin. The Motley Fool owns and recommends Bitcoin. The Motley Fool has a disclosure policy.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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Margarita W. Wilson

The author Margarita W. Wilson