China saw Bitcoin futures bullish early on and they sought to accumulate them. Bitcoin is both a currency and the best asset to store. China's economy is growing fast, they are the world's factory. Chinese goods compete directly with anything made around the world. The special thing is that they have counterfeiting technology, abundant and skilled workers.
China is allying with Russia, India, Middle Eastern countries to separate itself from the dollar. This dramatically affects the existence of the US dollar.
I believe that China will emerge as a direct threat to the US economy and this is becoming more certain as we observe their recent moves.