#cryptochina China could become the largest Bitcoin reserve in the world
If the scenario occurs in which China creates its own Bitcoin reserve, it would then become the largest holder. Although formally the U.S. holds more BTC (198,109 coins), a good portion of them must return to the Bitfinex exchange.
In this way, the actual reserves of the North American country are just over 112,000 bitcoins. This would make China the global leader in Bitcoin accumulation. During the White House cryptocurrency summit, according to Samson Mow, ways to acquire BTC without affecting the budget will be discussed.
Mow emphasizes that there are alternatives such as issuing Bitcoin bonds and selling gold. These actions would allow the U.S. to start buying BTC and establish itself as the leading country over China. Washington should not settle for its current holdings for its reserves. If it doesn't want to be second to China, it must necessarily buy bitcoins.
In any case, President Trump's initiative becomes the starting kick for a race of adoption that will provoke enormous scarcity of supply. Thus, those countries that buy first will have the greatest yield for their Treasury.
Will the new arms race between the U.S. and China be based on Bitcoin and chips rather than weapons? That remains to be seen.