If I was China I would just buy every single dip. The deeper the dip, the bigger the buy. Get all the liquidations, and idiot countries panic selling. Get the mtgox panic selling. You're almost guarnateed to get it cheap, and they want to get rid of their dollars anyway.

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Or make a strategic parallel play. Presumably they'll make something USDC-like that you require trade in. Altman was just talking about something similar.