Recently, Binance founder Zhao Changpeng's remarks about China's potential purchase of Bitcoin have sparked widespread attention in the market. Zhao mentioned that cryptocurrency trading in China accounts for more than 30% of global trading volume, and he further speculated that, in light of the potential risk of U.S. sanctions on China's gold reserves, China might consider incorporating Bitcoin into its strategic reserves.
His viewpoint has triggered discussions about the possibility of China secretly purchasing Bitcoin to enhance its independence in the global financial system. If implemented, such action would challenge the current dollar-dominated international financial system and could lead to significant adjustments in global financial dynamics.
However, from a technical and regulatory perspective, achieving this strategy is quite difficult. The monitoring of financial transactions by the U.S. and other major economies is extremely strict, and China faces many challenges in making large-scale Bitcoin purchases without being detected.
Zhao also predicted that as digital currencies become more popular and accepted, the traditional financial order may be replaced by a new order centered around Bitcoin. This prediction showcases the potential disruptive impact of cryptocurrencies on the global financial order, and although this shift may still be in its early stages, it has already attracted significant attention from various sectors.
Overall, there is still much uncertainty regarding the possibility of China adopting Bitcoin as a strategic reserve. Although Zhao's remarks provide one perspective, the actual implementation of this strategy may be influenced by various factors, including the complexities of politics, economics, and international relations. In this regard, the global financial market remains highly attentive to observe whether this trend will become a reality in the future.
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