Will China Start Buying Bitcoin? A Statement by Zhao Changpeng Sparks Global Attention
Recently, a statement by Binance CEO Zhao Changpeng has sparked widespread discussion in the global financial community. He revealed that China's cryptocurrency trading volume accounts for more than 30% of the global total and raised a thought-provoking point—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 Changpeng further pointed out that China may be quietly acquiring Bitcoin, waiting for the right moment to make a public announcement. This speculation has led to profound reflections on the global financial landscape. If China really begins to purchase Bitcoin in large quantities, it could have far-reaching effects on the global economy and financial system, especially regarding the dominance of the US dollar in international trade.
Global Central Bank Digital Currency Alliance
Zhao Changpeng also mentioned that 109 countries have currently joined the Central Bank Digital Currency (CBDC) alliance, with China being an important member of this alliance. If China takes more proactive actions in the field of digital currency and Bitcoin, it will further intensify the shift in the global economic landscape.
The Concept of “Bitcoin G7”
Another thought-provoking point raised by Zhao Changpeng 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” led by Bitcoin. This idea is somewhat similar to the “Libra” concept proposed by Mark Zuckerberg in 2018, which failed to be implemented due to strong opposition from the Trump administration. Now, Zhao Changpeng has brought up this idea again, sparking new thoughts.
Can This Concept Become Reality?
Although the idea of a “Bitcoin G7” is full of challenges, especially in the context of increasingly stringent regulations on cryptocurrencies by central banks and regulatory agencies around the world, with more countries exploring the possibilities of digital currencies, this concept may not be impossible.
Bonus: Marvin on the Ether Chain, as an emerging Musk concept, is likely to become a potential player in the Meme coin market.
