According to Cointelegraph: In a meeting of the New Zealand parliamentary committee, New Zealand Reserve Bank Governor Adrian Orr humorously remarked about the modern central banking system's ability to print money and still have it believed by people. Orr's comment, allegedly made in jest, sparked reactions from several advocates of Bitcoin who perceived some truth in his words.
In the face of various fiscal challenges and expectations of cost-effectiveness by ministers, Orr pointed out that they "fund themselves" and decide on the dividend to be paid as a central bank. His comment about the system of creating money led to reactions from the Bitcoin community, who have consistently argued for the separation of money from the state. Bitcoin, which they hold, is the only financial network that operates free from government manipulation.
Bitcoin supporters fear that central bank digital currencies (CBDCs) could lead to further centralization of money and limit freedoms. New Zealand has been exploring the idea of implementing a CBDC since September 2021. However, Orr expressed critical concern during the meeting about the rise of decentralized digital currencies, such as Bitcoin, arguing that they fail to meet the primary properties of money.
