Our ancestors played with these long ago, China can't keep up. Everyone is speculating on cryptocurrencies, who will go mining?

🚨 Is China Ready to Begin Large-Scale Bitcoin Purchases?

Recently, comments from Binance founder Zhao Changpeng have sparked widespread attention in the global financial community. He revealed that China's cryptocurrency trading volume accounts for over 30% of the global market and hinted that if the U.S. restricts China's gold reserves, China may start using Bitcoin as a reserve asset. With 109 countries already joining the central bank digital currency alliance, China is clearly playing an important role in this. So, if China really begins large-scale purchases of Bitcoin, what far-reaching impacts will this have on the global financial system?

Zhao Changpeng further pointed out that China may quietly acquire Bitcoin and publicly announce this move at the right time, aiming to enhance China's independence in the global financial system. Nevertheless, some experts believe that if China attempts to use Bitcoin to bypass the U.S.-dominated international financial system, the challenges it faces are immense. After all, global central banks have strict regulations regarding capital flows, and any large-scale transfer of funds could attract significant attention from regulatory agencies.

More thought-provoking is Zhao Changpeng's point: as more and more countries join the central bank digital currency-led alliance, the traditional global financial order dominated by G7 countries may gradually collapse, potentially replaced by a new financial landscape led by Bitcoin, akin to a 'Bitcoin G7'. This idea is reminiscent of the Libra concept proposed by Zuckerberg in 2018, which, despite failing to materialize due to opposition from the Trump administration, has undoubtedly sparked renewed discussions with Zhao Changpeng's mention.

So, is a 'Bitcoin G7' really possible?

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