Subnostr

The China Evening Missive

With the “King” sucking all the air out of the room today figured it would be worthwhile to see if China is weighing in on the topic.

It is, and found the following taken from the China Daily article of particular interest

“As many countries have embraced "de-dollarization" following the US' abuse of the dollar's status, its excessive currency issuance and serious overdrawing of the dollar credit, the change in attitude toward Bitcoin may be a new attempt by the US to address the dollar's weakening international status.”

Separately, I did check in with my “guy” and the local P2P market remains as vibrant as ever.

Full story linked here:

https://www.chinadaily.com.cn/a/202411/21/WS673e7b0aa310f1265a1cebbd.html

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Discussion

Diego Valley 1y ago

😮 A Chinese Bitcoin Strategist Reserve? Are locals using it to send assets overseas or transact locally?

Peter Alexander 1y ago

While I don't know for certain, I'm fairly confident that China has already established a strategic reserve. Difference is that Chinese leadership was smart enough to not saying anything about it.

For the average Chinese investor, BTC is more about trading and making fiat. While there are some out there concerned about monetary debasement, the Chinese just love to trade and make money. That is the priority.