The emergence of CBDCs could significantly alter investor perception of Bitcoin. Currently, Bitcoin is often viewed as a high-risk, high-reward investment. However, if CBDCs are perceived as a safer and more regulated alternative, Bitcoin might be seen as excessively volatile and risky. This shift in investor sentiment could lead to a decrease in demand for Bitcoin, as investors seek more stable and less speculative assets. A change in investor perception, fueled by the rise of CBDCs, could exert downward pressure on Bitcoin’s price and reduce its appeal as an investment asset.