Zhao Changpeng (CZ) predicts: China may reserve Bitcoin.

According to (Cointelegraph), former Binance CEO Zhao Changpeng (CZ) stated at the Bitcoin MENA conference in Abu Dhabi that China may follow Trump's proposed Bitcoin reserve policy and become one of the countries adopting Bitcoin as a strategic reserve.

CZ, who is very familiar with the Chinese market, believes that although there is currently no evidence showing that the Chinese government is hoarding Bitcoin, they will eventually take action.

CZ pointed out that the Chinese government is known for its quick decision-making, but due to a lack of transparency, its cryptocurrency policies are hard to predict.

He further stated:

"If they announce publicly first and then take action, I would be surprised. I believe they might quietly accumulate first and then announce it."

He emphasized that Bitcoin, as the only 'hard asset,' will ultimately become the choice for national strategic reserves. The term 'hard asset' originally refers to assets that physically exist, are hard to destroy, and are less affected by economic cycles, such as precious metals and energy. Viewing Bitcoin as a hard asset indicates CZ's confidence in its becoming a new value storage asset.

Image source: Former Binance CEO Zhao Changpeng (CZ) participated in the Bitcoin MENA event in Abu Dhabi.

For the first time, the U.S. Treasury establishes Bitcoin as digital gold.

(Crypto City) previously reported that in the latest report from the U.S. Treasury, Bitcoin was explicitly positioned as 'digital gold.' The report pointed out that in the decentralized financial ecosystem, Bitcoin is gradually playing a role similar to that of traditional gold and becoming a value storage asset.

Bitcoin receiving 'national-level recognition' from the U.S. not only shows that major powers are beginning to acknowledge the global influence of cryptocurrencies but also provides investors with new options.

The U.S. Treasury emphasized that although Bitcoin still has speculative characteristics, its anti-inflation and hedging properties are becoming increasingly evident. Notably, Bitcoin's market cap has rapidly grown from $6.4 million in 2015 to the current $2.3 trillion, recently surpassing the $100,000 mark for the first time.

The report also pointed out that stablecoins are another rapidly growing digital asset, with approximately $120 billion in stablecoin collateral invested in U.S. Treasury-related assets. This not only provides liquidity to the cryptocurrency market but also indirectly strengthens the core position of U.S. Treasuries in the global financial system.

Further reading:
National-level recognition! U.S. Treasury: Bitcoin is digital gold, and the trend of gold + blockchain is here.

Will the U.S. Bitcoin strategic reserve be realized? Former Treasury Secretary: Too crazy.

According to (CryptoSlate), former U.S. Treasury Secretary Larry Summers stated in an interview with (Bloomberg) that the idea of establishing a national-level Bitcoin reserve is 'crazy.'

He questioned: "Of all the assets that could be reserves, why would the government choose to hoard a bunch of 'unproductive' Bitcoin?"

Although facing skepticism from experts, this political view is gradually gaining support from more politicians.

Since Trump proposed the establishment of a Bitcoin strategic reserve, multiple states in the U.S. have begun discussing related legislation. For example, Texas and Pennsylvania are considering establishing state-level Bitcoin funds, while politicians in Brazil and Poland are also promoting similar proposals.

Further reading:
Is Trump's strategy too effective? Polish presidential candidates are also saying: If elected, Bitcoin will be treated as a reserve!

Currently, the concept of treating Bitcoin as a national strategic reserve is still in the exploratory stage. The U.S. Treasury's report also emphasizes that the development of the cryptocurrency market is still in its early stages, and its scale is far less than that of traditional finance and physical assets.

However, the potential of blockchain technology to improve financial market settlement and clearing processes has already begun to attract attention from all sectors.

If national-level Bitcoin strategic reserves become a trend, we may see countries competing for 'digital gold' in the future, and as cryptocurrencies gain more recognition, the path to mainstream acceptance may not be far off.

"Super crazy prediction! Binance CZ: China may reserve Bitcoin, will the battle for digital gold begin?" This article was first published in 'Crypto City.'