With the increasing uncertainty in the global economy, investors are looking for alternative assets to hedge against risks. Bitcoin (BTC), the largest cryptocurrency by market capitalization, has emerged as a potential safe-haven asset due to its low correlation with traditional financial markets. One of the factors that has been identified as potentially driving the price of Bitcoin is the size of the People's Bank of China's (PBOC) balance sheet. According to a recent study by Coindesk, there has been a strong positive correlation between the two over the past 8 years. The 30-day correlation coefficient between the two is 0.66, indicating a strong positive correlation. This correlation is likely due to the fact that the PBOC's balance sheet is a key indicator of the health of the Chinese economy. When the PBOC expands its balance sheet, it is typically a sign that the Chinese government is taking steps to stimulate the economy. This can lead to increased demand for commodities and other assets, including Bitcoin. Recently, the PBOC has been considering a stimulus package of up to 1 trillion yuan to boost the economy. This is expected to have a positive impact on the price of Bitcoin, as it will likely lead to increased demand for the cryptocurrency.