Binance founder Zhao Changpeng (CZ) proposed a striking viewpoint at the Bitcoin MENA conference held in Abu Dhabi on December 9, 2024: he believes that China may become one of the countries to establish Bitcoin reserves. This viewpoint has sparked widespread discussion, especially in the context of the United States about to implement a Bitcoin strategic reserve plan.
Zhao Changpeng pointed out that although China's position in the cryptocurrency field is somewhat vague and uncertain, the trend of establishing Bitcoin reserves is 'inevitable.' Once the United States truly begins to establish Bitcoin reserves, it may trigger other countries to start following suit. China must also do this at some point because Bitcoin is the only 'hard asset.' However, before that, smaller countries will be the first to adopt Bitcoin reserves to combat inflation and external economic shocks.
Although there is currently no concrete evidence of China hoarding Bitcoin, Zhao Changpeng, who grew up in China, believes that once China decides to take action, it can quickly implement policies. CZ believes that China may follow the Bitcoin reserve plan proposed by the Trump administration in the United States, but it is more likely to first secretly hoard Bitcoin on a large scale and then formally announce its strategic plan to the outside world at an appropriate time. This 'quiet' strategy allows China to swiftly enter the Bitcoin market without other countries noticing.
Zhao Changpeng's viewpoint has provoked thoughts about the future of the world economy: If Bitcoin really becomes a global reserve asset, how will the traditional financial system respond to this change? How will central banks around the world adjust their monetary policies to adapt to this emerging asset? These answers are unknown, but it is worth boldly predicting that the future financial system may revolve around Bitcoin, forming a new type of international monetary system, and countries around the world may engage in fierce competition in this field.
Online comments: I agree, the East has a thousand years of Confucian culture, doing things without saying, saying things without doing... this is called moderation, low-key, humility, heart learning, thirty-six strategies, which are different from the Western Trump generation, relatively shadowy, the East is Yin, the West is Yang, known as Yin Yang and Bagua, oppositional unity. Moreover, here, the mindset is about control, stability overrides everything. If Bitcoin is a global trend, it won't let the common people buy first; the government will buy first, and then gradually let the public buy in a controlled manner. If they want to buy, it's best to buy from the government. The common people are forever the best leeks. 😁
