Breaking news! China may be about to lift the Bitcoin ban
In an article published on Wednesday (December 18), the well-known cryptocurrency media Bitcoin Magazine predicted that China may be about to lift the Bitcoin ban, which could happen as early as January 2025, and believed that it is only a matter of time before the Bitcoin ban is completely lifted. The media responsible for hosting the Bitcoin 2024 conference believes that China may have been quietly accumulating Bitcoin.
Vivek Sen, a Bitcoin Magazine EU journalist and operator of Bitcoin marketing agency Bitgrow Lab, wrote: "Listen, I think it is only a matter of time before China completely lifts the Bitcoin ban. Yes, they banned trading and mining in 2021, but to be honest, a lot has changed since then - especially this year. The momentum of Bitcoin's development around the world is crazy."
He added that the market saw US President-elect Donald Trump calling for hoarding Bitcoin; Bitcoin ETFs were approved, Federal Reserve Chairman Powell called Bitcoin "digital gold", BlackRock CEO Larry Fink turned to support Bitcoin, and even Russian President Putin praised Bitcoin. With all this going on, “I wouldn’t be surprised” if China has begun quietly hoarding Bitcoin.
He further explained: “The reason why I think so is that China doesn’t like to announce what they are doing in advance - it’s not their way. Binance founder Changpeng Zhao (CZ) recently spoke about this at the Bitcoin MENA conference in Abu Dhabi, saying that while the United States likes to publicly announce upcoming policies (such as Trump’s announcement of Bitcoin plans to win voter support), Asian countries prefer to remain silent.”
“If they (China) do something about Bitcoin, they will do it quietly - when they are ready to officially announce it, we will know,” he emphasized.
Now, with Trump’s strong promotion of Bitcoin and cryptocurrency, Vivek believes that China will not sit on the sidelines for too long. This is turning into a global race, and if China wants to stay competitive, it can’t miss the Bitcoin train.
