As cash disappears, Bitcoin is becoming a crucial alternative, protecting against the misuse of central bank digital currencies (CBDCs).

The War Against Cash

Bitcoin is a line of defense not only against the negative effects of inflation but also against the possible disappearance of cash. Central banks openly aim to replace cash with CBDCs, emphasizing the growing use of digital payments. However, as ATMs close, the amount of cash in circulation decreases. Last year, six ATMs were closed daily, and there are now only 44,000 left.

The Norwegian Case

In Norway, where cashless payments dominate, the parliament amended the law to protect consumers' right to pay in cash. The new law came into force on October 1. Justice Minister Emilie Enger Meh recommends keeping cash on hand in case of emergencies.

Bitcoin as a Cash Alternative

Many countries, realizing the potential consequences of the disappearance of cash, understand that every payment would be under control and could be taxed. This is why Bitcoin is so popular in countries like Nigeria, where the central bank is trying to replace cash with its CBDC. Bitcoin is a hedge against such projects, offering an alternative that is difficult to censor.

In developed countries like Norway, cash is likely to remain in circulation. However, many countries understand that the disappearance of cash could lead to total control over all transactions. Bitcoin, although not yet able to compete with Visa and Mastercard, remains a reliable and affordable payment method that is hard to censor.