MICA Daily｜Former Binance CEO CZ: China may possibly establish BTC reserves

Former Binance CEO Zhao Changpeng (CZ) said at the BTC MENA conference held in Abu Dhabi on December 9th that he believes China may become one of the countries adopting BTC as a strategic reserve, similar to the plan proposed by the upcoming Trump administration in the United States. However, he believes that 'smaller countries' may be the first to adopt BTC reserves, but this change may happen slowly.

However, he also mentioned that due to the lack of transparency in the Chinese government, its position on cryptocurrency is more difficult to predict. However, Trump has not yet taken office, and the strategic BTC reserve plan has not yet been launched. If this really happens, we will be able to observe the reactions of other countries, that is, when the United States really starts to establish BTC reserves, it may trigger other countries to start imitating.

He also added that there is no sign of the Chinese government hoarding BTC at the moment, but he believes that establishing a strategic reserve is "inevitable," and he believes that the Chinese government will hoard BTC before announcing its strategic plan, rather than announcing the policy in advance. CZ believes they have to do this at some point because BTC is the only "hard asset."

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<MICA Daily | Former CEO of Binance CZ: China may establish BTC reserves > This article was first published in Blocklike.