It’s just a question of time until China reverses its ban on Bitcoin. Yes, they outlawed trading and mining back in 2021, but honestly, a lot has changed since then — especially this year. Bitcoin has seen a massive surge in popularity worldwide.
What have you seen? US President-Elect Donald Trump Jerome Powell, Fed chair, approves Bitcoin ETFs. calling Bitcoin “digital gold,” Larry Fink flipping pro-BitcoinPutin saying It has some nice features. It’s not surprising that China is quietly buying bitcoins.
Here’s why I think that: China doesn’t like to announce what it’s doing beforehand — it’s just not how they operate. CZ Former Binance Chief Executive talked about The Asian countries, he said recently at the Bitcoin MENA event in Abu Dhabi, prefer silence to loud public pronouncements about upcoming policies. (For example Trump announcing Bitcoin plan to win over voters).
China has no elections. It’s not like Trump has to woo the public. If they’re making moves with Bitcoin, they’ll do it quietly — and we’ll find out when they’re ready to make it official.
China can’t afford to be left behind with Trump pushing Bitcoin and other cryptos. China cannot afford to be left behind in this global race. My gut tells me they’re already planning to unban Bitcoin and crypto — and I wouldn’t be surprised if it happens as early as Q1 next year, especially if Trump takes office.
What’s the next big hint? Hong Kong. China uses Hong Kong for testing things out before bringing them to the mainland. And this year, we’ve seen Hong Kong make major moves — approving Bitcoin and crypto ETFs and greenlighting more crypto exchanges. This is not a mere coincidence. It is planned to abolish crypto taxes on institutions. China will be watching closely, as these early steps are a precursor to broader changes.
I think China Has likely quietly been accumulating Bitcoin all along. When the time is right, they’ll unban it — and not just to compete with the US, but to lead. Stay tuned. It’s coming sooner than people think.
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Source: bitcoinmagazine.com
