In order to have a monopoly in any marketplace, you need to eliminate any possible competition. That is exactly what the FED is doing by aggressively jacking up interest rates. They are in the process of eliminating any possible competition in the digital currency space before they roll out their CBDC. They are currently destroying Bitcoin and all cryptos.  While there has never been a rational justification for investing in Bitcoin(crypto), whatever case one could have made for speculating in it, evaporated as interest rates rose above 2-3%.  Zero interest rates led to crazy speculation in not only growth stocks and companies with no sales, much less, actual earnings, but crypto, NFT’s, tokens and all kinds of worthless crap. Once interest rates started to move up and are now providing decent returns to fixed income investors again, the weight of useless junk, only rising based on the greater fool theory, becomes too heavy to support the insane prices. Without any actual economic value or return, they are destined to reach their true value, zero. It won’t be long before cryptos are relegated to the dustbin of history. The new CBDC should be introduced sometime after the November election, when the economy is clearly and officially declared to be in recession.