Will China Start Buying Bitcoin? Zhao Changpeng's Remarks Spark Global Attention
Recently, comments made by Binance CEO Zhao Changpeng have sparked widespread discussion in the global financial community. He revealed that China's cryptocurrency trading volume accounts for over 30% of the global total and proposed an intriguing perspective—if the United States successfully prevents China from holding gold reserves, then China will also have to start accumulating Bitcoin reserves.
China's Attitude Towards Cryptocurrency
Zhao further pointed out that China may be quietly acquiring Bitcoin and will publicly announce it when the time is right. This speculation has led to profound reflections on the global financial landscape. If China indeed begins to purchase Bitcoin in large quantities, it could have far-reaching effects on the global economy and financial system, especially concerning the dominance of the U.S. dollar in international trade.
Global Central Bank Digital Currency Alliance
Zhao also mentioned that 109 countries have currently joined the Central Bank Digital Currency (CBDC) alliance, with China being an important member of this coalition. If China takes more proactive actions in the digital currency and Bitcoin space, it will further intensify the shift in the global economic landscape.
The Concept of “Bitcoin G7”
Another striking perspective presented by Zhao is that as more countries join this emerging financial alliance, the current global financial system dominated by G7 countries may ultimately collapse, to be replaced by a “Bitcoin G7.” This idea is somewhat similar to the “Libra” concept proposed by Mark Zuckerberg in 2018, which failed to materialize due to strong opposition from the Trump administration. Now, Zhao brings this idea up again, prompting new thoughts.
Will This Concept Come True?
Although the vision of a “Bitcoin G7” is filled with challenges, especially against the backdrop of increasing regulations on cryptocurrencies by central banks and regulatory agencies worldwide, the possibility of this concept may not be impossible as more countries explore the potential of digital currencies.
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