Replying to Avatar mike

China? 😱

nostr:note1ywqehqkaw2v2v9tjw09furd46ms0zfuf5snaw2f5aga4dahfvkcq79276j
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S!ayer 4mo ago

I think he means gold

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mike 4mo ago

😳

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S!ayer 4mo ago

Yeah around 2024, China moved a substantial amount of gold to the UAE, most likely through ICBC, for use in inter-BRICS trade.

Ultimately gold back Rinminbi. I believe they've done a few billion worth in trade since 2024

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mike 4mo ago

But he’s saying Bitcoin 😳

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S!ayer 4mo ago

Yeah probably promotion of some sort, but there's no data to say that they are. Especially China looking to buy Bitcoin above 100k, doesn't seem right

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S!ayer 4mo ago

I could be entirely wrong about it though

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mike 4mo ago

They hate Bitcoin.

I know game theory and all that, but even so 🤔

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Christian Lacdael 4mo ago

I agree, btc works as a gold price suppression.