Could this be classified as a retaliative measure from the Asian economic giant?. Such a significant treasury holdings sell for bitcoin can shake the US economy triggering higher rates.
But here's the interesting part of the news:
It means an increase in institutional holdings in bitcoin, therefore increase in bitcoin growth.
More investors will be pilling towards bitcoin as an asset they can trust to hedge their funds against any uncertainty that may arise.
We can anticipate another significant ATH all things being equal.
Well, for me it is no doubt a retaliatory act for China because there is no other reason they are doing that. They want to dominate and become the most strongest economy and therefore they want the world in their hands as for the US interests. These two competing countries not only affect their own economies but the whole world is suffering to this and I do hope they will not end up the worst.