Look, I think it’s only a matter of time before China does a complete 180 on its Bitcoin ban. Yes, they banned trading and mining in 2021, but honestly, a lot has changed since then – especially this year. Bitcoin’s momentum globally has been crazy.
We have seen US President-elect Donald Trump calling for storing Bitcoin; Bitcoin ETFs approved by Federal Reserve Chairman Jerome Powell Contact Bitcoin is “digital gold,” Larry Fink endorses Bitcoin, and even Putin Saying Nice things about him. With all of this happening, I wouldn’t be shocked if China actually starts accumulating sats (buying Bitcoin).
And that’s why I think: China doesn’t want to announce what it’s doing in advance – it’s not just about how it does it. Former CEO of Binance CZ I talked about it This recently at the Bitcoin MENA conference in Abu Dhabi, saying that while the US likes to make big public statements about upcoming policies (like Trump announcing Bitcoin plans to attract voters), Asian countries prefer to move in silence.
And let’s not forget that China does not have elections. They don’t need to win over public opinion like Trump does. If they are making moves with Bitcoin, they will do so quietly – we will find out when they are ready to make it official.
Now, with Trump’s big push for Bitcoin and cryptocurrencies, I can’t see China sitting on the sidelines for long. This is turning into a global race, and if China wants to remain competitive, it cannot afford to miss the Bitcoin train. My gut tells me they are already planning to lift the ban on Bitcoin and cryptocurrencies, and I wouldn’t be surprised if that happens as early as the first quarter of next year, especially if Trump takes office.
Another big tip? Hong Kong. China has a long history of using Hong Kong as a sandbox to test things before rolling them out to the mainland. And this year, we’ve seen Hong Kong make big moves – approving Bitcoin and cryptocurrency ETFs, and greenlighting more cryptocurrency exchanges. Let’s be real: this is no coincidence. They plan to eliminate crypto taxes on institutions. I think China is watching this carefully, and these are early steps towards a broader transformation.
In my opinion, China has probably been quietly accumulating Bitcoin all along. When the time is right, they will lift the ban — not just to compete with the United States, but to lead. Watch this space. I think it will happen much sooner than most people expect.
This article is a takes. The opinions expressed are entirely those of the author and do not necessarily reflect the opinions of BTC Inc or Bitcoin Magazine.
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