I am bullish on the future of Bitcoin as a technology.
We all know that China has a total ban on cryptocurrencies, including but not limited to no mining, no circulation, no trading, no banking services, no listing on exchanges.
What do you think countries have to lose by making this choice?
I don't know what the Chinese state will lose if they decide to get out of bitcoin but I don't think they have anything to lose because they must have had a lot of bitcoins stored in one place. And maybe the total ban is only temporary and to give negative news to the world so that it can hit the bitcoin price and they can take advantage of it.
Meanwhile, we don't even know what China's strategy is in this regard so we all think there is a loss to China. And their leader must have thought it through well so it could continue as usual.
They just told the world they have 1 trillion dollar deficit, thats literally 1 trillion dollars. If they get out of bitcoin world as well, thats just going to be even worse and worse. If they allowed their people to be in crypto fully, like not just allow it, but support it then things would change.
Online world is billions of dollars worth of world, look at alibaba and tiktok which are online companies that grew out of China, they need more stuff like that and they will be able to fix that deficit. You may think it won't, but 10 companies that size would actually cover a good chunk of it. Bitcoin is part of the online world, they can't just lock it down.