Purely theoretically, China can take control of bitcoin, as He is one of the leaders in Bitcoin mining. But I do not think that he will do this, now China is more interested in creating its own crypt, which will be 100% under its control.
https://neironix.io/news/china_plans_release_national_dcrpChina cant take control of bitcoin no one can! That is the beauty of the network. Can someone theoretically 51% it yeah, but the economic incentive is not there to 51% it. How do peoe think that a single government entity can take over bitcoin...I dont think you understand how bitcoin runs.
Economically it may not make much sense. But from a government point of view, it can make a lot of sense. They can spend a few billion USD and destroy the credibility and reputation of Bitcoin forever. But spending such a huge amount of money from this purpose can never be defended before the public, unless they can prove a credible link between either crime or terrorism with Bitcoin. Well... they will never get such a link, because it does not exist.
Fiat also has a direct link to crime and nothing is going to stop the governments from printing at will. Even if china bans bitcoin for the umpteenth time it doesnt mean the rest of the world will throw their hands up. Since bitcoin has no borders, any entity with borders can only block from within their own lines.