Is China ready to start large-scale purchases of Bitcoin?

Recently, the remarks made by Binance founder Zhao Changpeng have attracted widespread attention in the global financial community. He revealed that China's cryptocurrency trading volume accounts for over 30% of the global total and hinted that if the United States could prevent China from holding gold reserves, China might also turn to Bitcoin reserves. With 109 countries already joining the central bank digital currency alliance, China is clearly one of the important members. If China really starts purchasing Bitcoin, what profound impact will this have on the global finance?

Zhao Changpeng further pointed out that China might quietly acquire Bitcoin behind the scenes and publicly disclose this move at an appropriate time. He believes that this approach could help China achieve a more independent position in the global financial system. However, some experts also indicate that if China intends to bypass the dollar hegemony and accumulate reserves through Bitcoin, it would be very difficult. After all, the central banks of the United States and other countries closely monitor the flow of funds.

In addition, Zhao Changpeng also raised a thought-provoking point: as more and more countries join, the global financial order dominated by G7 countries may gradually collapse, replaced by a 'Bitcoin G7' led by Bitcoin. This concept is similar to the Libra concept proposed by Zuckerberg in 2018, which failed to materialize at that time due to strong opposition from Trump, but Zhao Changpeng's revival of this idea has sparked new discussions.

So, could this concept of a 'Bitcoin G7' really become a reality?