Why is Bitcoin a threat to China? Is China deliberately imposing sanction on BTC
China has always imposed sanctions on bitcoin and China has always called it a conspiracy. China believes that if the world became rich because of bitcoin, no country would need China. This is because people will become economically prosperous, which will reduce their dependence on China. On the other hand, members of the Chinese Communist Party are very interested in bitcoin. I don't think that China will ever call the bitcoin a legal currency, but a time will surely come when China will have to trade by buying bitcoins from the world. Because how long can China trust banks? As the banks may start printing a lot of money which will increase the inflation and people will be forced to move to Dogecoin. If this happens then everyone will be forced to accepting cryptocurrency and The inflation of the dollar will be as much as the amount of tokens like Shiba Inu.
Doesnt only apply on China but also in other countries as well which are heavily regulated where Bitcoin or decentralization itself is a threat because government doesnt really like for things that wont
able to be traced up or cant be viewed or be known that they do like thats why some government cant really still be sure whether they do still remain neutral with bitcoin or crypto or would totally
impose bans and restrictions due to that characteristics.China isnt the first time on making out these kind of decisions where they do make out bans and later on they do lift up the ban
and then later on they do it again..Get used to it because they do really have that kind of behavior.