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Scaramucci likened US entry into the ecosystem to a “price-matching race.”
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China would return to BTC Mining after more than three years of ban.
Anthony Scaramucci, founder and managing partner of SkyBridge Capital, recently shared his thoughts on the near future of Bitcoin (BTC) and the broader Cryptocurrency market for the coming year.
During his participation in the Bitcoin MENA 2024 Conference, Scaramucci predicted that China “would be back in the Bitcoin game before the end of 2025.” It would be an action derived from the movement in favor of digital currency that will promote the new government of Donald Trump.
Taking this circumstance into account, the investor believes that the Chinese government would follow in the footsteps of the United States. This, in the middle of the competition and trade war present between the two countries.
An action that other countries will also emulate. He thinks, therefore, that the new regulatory framework that is likely to be approved in the United States for digital assets will pressure other nations to establish similar regulations.
In this way, he compares the global adoption of the currency created by Satoshi Nakamoto with a “peer sales race”, which no country can afford to ignore, since this trend is on the rise.
“You are not going to be in a position in the world where the United States is moving towards Bitcoin and you are not,” Scaramucci said at the conference in the United Arab Emirates.
He ensures, therefore, that next year we will see China establishing a strategic reserve of Bitcoin. He also predicts that the Chinese they are going to reconsider the ban of cryptocurrency mining that they implemented in 2021, to use it as a tool to mine and accumulate more BTC.
There is no way, and I’ll bet money on it, that if the United States moves toward creating a strategic Bitcoin reserve, the Chinese are not going to participate.
Anthony Scaramucci.
The predictions of the CEO of SkyBridge Capital are also handled by other analysts, who see an unlocking of Bitcoin in the Asian country as very likely, after Trump enters the White House.
As CriptoNoticias reported, HashKey Group CEO Xiao Feng said last month that there are many possibilities about what Beijing supports the cryptocurrency sector. Well yes The United States gaining greater strength as the leader of the Bitcoin ecosystem could mobilize the competitive spirit of the Chinese.
In fact, this spirit of competition has already been awakened among Chinese businessmen. It was recently learned that the Chinese company SOS Limited, dedicated to technology, finance and cryptocurrency mining, will add BTC to its treasuryfollowing in the footsteps of MicroStrategy.
That is why the Chainalysis team has the same vision as Scaramucci and Feng, noting that “Hong Kong would be a testing ground for these efforts.” The idea is supported by Emiliano Pagnotta, associate professor of finance at the Singapore Management University, for whom “the 2021 mining offensive was a strategic mistake.”
More recently, former Binance CEO and founder Changpeng Zhao also He insisted on the domino effect that will be generated with Bitcoin. “If the United States does it, then other countries will have to follow,” commented.
However, none of the analysts can be sure that China is regretting its decision on Bitcoin and so far the government has not expressed intentions in that regard.
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