Changpeng “CZ” Zhao, the former CEO of Binance, has predicted that China might become one of the first nations to establish a strategic Bitcoin reserve.
During a speech at the Bitcoin MENA conference, Zhao suggested that China could follow the example of the incoming US administration, which has shown interest in potentially establishing a Bitcoin reserve.
Despite the lack of transparency in China’s stance on cryptocurrencies, Zhao recognizes their abilities to quickly implement policies. He believes that a swift shift towards Bitcoin is possible, given the country’s knack for implementing changes quickly.
While Zhao hasn’t seen any direct evidence of China hoarding Bitcoin, he believes it is only a matter of time before the country establishes a Bitcoin reserve.
This is due to Bitcoin’s unique position as a “hard” asset, making it an attractive option for governments looking to diversify their reserves.
