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Should Bitcoin Be Backed By Something?In a bitcoin-backed CBDC system, the central bank's reserves would hold bitcoin as an asset to collateralize the digital currency issuance. For. Similar to Fiat currency, Bitcoin (or most of the cryptocurrencies) is also not backed by any gold or silver hence does not have any intrinsic value. The value. Bitcoin is not issued by a central bank or backed by a government; therefore, the monetary policy tools, inflation rates, and economic growth measurements that.
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