Can China begin to purchase Bitcoin? Zhao Changpeng's remarks attract global attention
Recently, a statement by Binance CEO Zhao Changpeng has sparked widespread discussion in the global financial community. He revealed that China's cryptocurrency trading volume accounts for more than 30% of the global total and presented a compelling viewpoint — if the United States successfully prevents China from holding gold reserves, then China will also have to start accumulating Bitcoin reserves.
China's attitude towards cryptocurrencies
Zhao Changpeng further pointed out that China may be quietly acquiring Bitcoin, waiting for the right moment to announce it publicly. This speculation has led to profound reflections on the global financial landscape. If China indeed begins to buy Bitcoin in large quantities, it could have a far-reaching impact on the global economy and financial system, especially regarding the dominance of the US dollar in international trade.
Global Central Bank Digital Currency Alliance
Zhao Changpeng also mentioned that currently, 109 countries have joined the Central Bank Digital Currency (CBDC) alliance, and China is an important member of this alliance. If China takes more proactive action in the field of digital currencies and Bitcoin, it will further intensify the shift in the global economic landscape.
The concept of “Bitcoin G7”
Another intriguing point raised by Zhao Changpeng is that as more countries join this emerging financial alliance, the current global financial system dominated by G7 countries may ultimately collapse, to be replaced by a “Bitcoin G7.” This idea is somewhat similar to the “Libra” concept proposed by Mark Zuckerberg in 2018, which failed to be implemented due to strong opposition from the Trump administration. Now, Zhao Changpeng has brought up this concept again, provoking new thoughts.
Can this concept become a reality?
Although the idea of a “Bitcoin G7” is full of challenges, especially in the context of increasingly stringent regulations by central banks and regulatory bodies worldwide towards cryptocurrencies, with more and more countries exploring the possibilities of digital currencies, this concept may not be impossible.
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