Yesterday, there were a lot of news online saying that China will unblock Bitcoin in the mainland within three months. This is basically impossible, at least temporarily. Liberalizing the free trading of Bitcoin is equivalent to relaxing foreign exchange controls. Although Hong Kong allows Bitcoin to be traded on its own, Hong Kong and China are one country, two systems
Investment has an impossible triangle: security, profitability, and liquidity
In terms of monetary policy, developed countries such as the United States and Japan choose monetary policy independence and free capital flow
China is currently a developing country, and its monetary policy choice is monetary policy independence and fixed exchange rate system
And some poor and backward countries choose fixed exchange rate system and free capital flow
The outflow of Grayscale GBTC actually has little impact on the market. Grayscale's GBTC outflow is because the handling fee is higher than that of other institutions. It just changed an institution, not that the funds were withdrawn
