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Trump ally says China will get back into the Bitcoin game
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Last week, during the Bitcoin MENA 2024 conference, Anthony Scaramucci made a bold prediction about Bitcoin. Donald Trump’s former communications director stated that China will soon return to the Bitcoin game.
According to Scaramucci, the adoption of a more favorable stance towards Bitcoin by the United States will make China concentrate efforts to reactivate the sector in the country, including mining, banned in the country in 2021.
Scaramucci’s statement comes at a time when the debate about the creation of strategic Bitcoin reserves by government entities is growing. In recent years, several countries have begun exploring ways to incorporate Bitcoin into their financial systems. An example is Russia, a great ally of the Chinese.
In the middle of the year, Putin signed a law regulating Bitcoin mining in the country and at the end of November legislation recognizing cryptocurrencies as property in the country. Furthermore, recently, a Russian lawmaker proposed the creation of a national Bitcoin reserve as a strategy to mitigate sanctions and strengthen the economy.
In Brazil, another major trading partner of China, the introduction of legislation to allocate part of reserves into Bitcoin is underway. A bill was presented by deputy Eron Biondini for the creation of RESBit, the Brazilian Bitcoin reserve.
In the United States, discussions about formalizing Bitcoin reserves are quite heated. THE Senator Cynthia Lummis presented formal proposal for the gradual acquisition of substantial Bitcoin reserves. While other states, such as Pennsylvania and Florida, are also considering allocating part of their reserves to the digital asset.
The movement is not limited to American states. After all, large corporations such as BlackRock are showing interest in supporting the creation of a Bitcoin strategic reserve in the US. Furthermore, the president-elect Donald Trump made public statements demonstrating his support for the idea. In a recent interview, the son of the next president of the United States declared that America (as they call the United States) will become the capital of digital assets.
With growing institutional participation and government interest in incorporating Bitcoin into national reserves by the United States, Anthony believes that China will return to the Bitcoin market soon. For the CEO of SkyBridge Capital, the global economy is changing and with the United States migrating to Bitcoin, China will not want to be left out of this race.
Trump ally says China will get back into the Bitcoin game
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Trump ally says China will get back into the Bitcoin game
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Trump ally says China will get back into the Bitcoin game
