Changpeng Zhao: China Will Build a BTC Reserve
CZ, the former CEO of Binance, has recently stated at the Bitcoin MENA conference in Abu Dhabi on December 9th that he believes China may be among the first countries to adopt a strategic Bitcoin reserve.
This could potentially follow the plan proposed by the new incoming administration of the United States. CZ also mentioned that smaller countries may be the first to adopt a Bitcoin reserve, but the change could happen gradually.
He added that predicting China’s stance on cryptocurrency is difficult due to the lack of transparency from its government. According to CZ, since President Trump has not officially taken office and the strategic Bitcoin reserve has not been activated yet, it remains to be seen how other countries will react.
CZ said that China has the ability to swiftly implement policies if they decide to. He also mentioned that he has not seen any evidence of the Chinese government hoarding Bitcoin, but it is inevitable for them to establish a strategic reserve.
