Bitmain is still the largest company in the crypto world, but if the price of BTC drops below $ 4,000, the company will go bankrupt.
Perhaps only Binance is worthy of its position in the crypto world to represent China.
That is to be seen in the future. I hope btc will not drop as low as you predicted. But yes, if the btc value dropped significantly, Bitmain's position being at the top will come down so fast. But maybe, they are already doing some contingencies if that situation happens. They have other options on how to sustain its operations.
China is big boy in crypto since first day.
I was no surprise.
I was traveled to Shenzen for 1 month, buying some tech stuff.
and was amazed by how they use payment menthod, even vegetable seller has a qr code to her wallet. they got their own blockchain for their fiat money. and it's fast, fee free.
Wow, that's nice to hear. An actual experience of using such advance payment method. No wonder, they will be one of the supporters of crypto in terms of payment. It will make both sides life easier.