Is there a reason why China does not recognize Bitcoin?

Firstly, Bitcoin is a virtual currency, and the value of virtual currencies can vary greatly, which is very different from the value of physical assets.

Secondly, Bitcoin is the result of Western capital speculation; when speculation is profitable, it thrives, but when it becomes worthless, it will be ruthlessly discarded.

Furthermore, Bitcoin contradicts the values advocated by China; China's currency is linked to gold and a basket of world currencies, while Bitcoin does not have this functionality.

Ultimately, Bitcoin will become a crop that is harvested, and ordinary people should avoid it; those who want to get rich overnight and change their family fortunes are rushing towards failure. #BTC