2024

Bitcoin

Former Binance CEO Changpeng “CZ” Zhao has predicted that China could become one of the first countries to adopt a strategic Bitcoin reserve. Speaking at the Bitcoin MENA conference, Zhao suggested that China might follow in the footsteps of the incoming U.S. administration, which has hinted at a potential Bitcoin reserve. 
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 <img decoding="async" width="860" height="484" src="https://www.cryptotimes.io/wp-content/uploads/2024/12/CZ-at-Bitcoin-MENA-860x484.jpg" alt="CZ at Bitcoin MENA" class="wp-image-221814">
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Zhao acknowledged the uncertainty surrounding China’s stance on cryptocurrencies due to the government’s lack of transparency. However, he emphasized China’s ability to rapidly implement policies, suggesting that a swift shift towards Bitcoin is possible. 
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 “I’d be shocked if [the Chinese government] announced something and then do it — I’d be much less surprised if they accumulate and then announce […] They have to do it at some point because it’s the only ‘hard’ asset.” 
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While Zhao has not seen direct evidence of China hoarding Bitcoin, he believes that it’s inevitable for the country to establish a Bitcoin reserve. He highlighted Bitcoin’s unique position as a “hard” asset, making it an attractive option for governments seeking to diversify their reserves. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/12/09/bitcoin-mena-conference-2024-kicks-off-in-abu-dhabi/" target="_blank" rel="noreferrer noopener">Bitcoin MENA Conference 2024 Kicks Off in Abu Dhabi</a> 
</blockquote>

China to adopt strategic Bitcoin Reserve: Changpeng Zhao

The Crypto Times

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