One of Bitcoin’s key attractions is its resistance to censorship and seizure. However, the widespread adoption of CBDCs could challenge this “uncensorable” nature. Governments could use CBDCs to implement more sophisticated surveillance and control mechanisms, potentially making it easier to track and restrict transactions, including those involving Bitcoin. If users feel that their financial privacy is at risk, they might be less inclined to use Bitcoin, fearing that their transactions could be monitored or blocked. This increased control facilitated by CBDCs could undermine one of Bitcoin’s core value propositions, impacting its adoption and price.