Cryptocurrency analyst Joseph Young tweeted that in the long run, most reserve currencies may become digital currencies, such as digital dollars and euros. These digital currencies will be widely used in a cash-like manner. However, Bitcoin can be used as a major cross-border transaction medium, sending from one country to another. Due to various restrictions, remittances from one country to another are still inefficient, even with digital currencies. Therefore, I don't think Bitcoin will be affected by the rise of "central bank-backed digital currencies." It will have a clear use case, and the two can coexist.