cryptojournalist
Former Binance CEO Changpeng Zhao (CZ) says it’s only a matter of time before China builds a Bitcoin reserve. Speaking at the Bitcoin MENA event in Abu Dhabi, CZ suggested smaller countries would likely move first. Still, China could act swiftly once its government commits to the idea.
Despite China’s unpredictable crypto policies, CZ believes the government might accumulate Bitcoin quietly before announcing it publicly, describing Bitcoin as a “hard asset” essential for the future.
Bitcoin Reserve in U.S. Politics
President-elect Donald Trump proposed creating a strategic Bitcoin reserve during his campaign, sparking debate. Critics argue the move would drive up Bitcoin’s price, benefiting existing holders.
CZ’s Recent Legal Troubles
After serving four months in U.S. prison for violating Anti-Money Laundering laws, CZ was released in September. He stepped down as Binance CEO in November 2023 and is barred from managing the exchange. However, CZ hinted Trump might pardon him once in office.
