Could the tariff war lead China's switch to Bitcoin?

[Bobcrypto]

Many people may think otherwise, but as the tariff war is currently blowing hard on all the country involved, it must have lead to Chinese business switching to Bitcoin as many crypto analysis are showing. Considering that the effect of the tariff war is getting hold on the Yuan, even as Chinese business are diverting their yaun into bitcoin many crypto analyst reported.
I had once written a post some weeks ago on the Chinese government continuous stand on crypto, and i stated that, "China may have a loose end on it crypto stand in near future".
Now based on the current Tarrif war, do you think that China will reconsider it initial crypto stand, that is, the crypto banned?

Check here: https://cointelegraph.com/news/china-counters-tariffs-yuan-devaluation-bullish-btc

It may be very interesting for the Bitcoin community if the Chinese governments is turning to Bitcoin, probably to save the Yuan.

[Faisal2202]

Many people may think otherwise, but as the tariff war is currently blowing hard on all the country involved, it must have lead to Chinese business switching to Bitcoin as many crypto analysis are showing. Considering that the effect of the tariff war is getting hold on the Yuan, even as Chinese business are diverting their yaun into bitcoin many crypto analyst reported.
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It may be very interesting for the Bitcoin community if the Chinese governments is turning to Bitcoin, probably to save the Yuan.

This is quite new, I did not realize it. A way to deal with the high tariff is to devalue the local currency. The article did not shed any light on this matter, but I will do the necessary research to understand it (that's not important in this post, so), speaking of devaluing the local currency, 90% of the people know it, or let's say those who have millions, they want to save, and only they will consider BTC!

That's a big question, in my opinion, because they have gold, although I read a few months ago the citizens there are not interested in buying properties, so if that's still a thing, then yeah, maybe they will move their funds into BTC, and it is cheap too. That's bullish news, and I hope it will happen.

Although the 109% tariff is only on electric vehicles, so you know why, let me guess, he wants Elon's EV to sell in the USA rather than China, and maybe he doesn't trust their EVs, but China is smart haha, they will devalue.

[Charles-Tim]

Now based on the current Tarrif war, do you think that China will reconsider it initial crypto stand, that is, the crypto banned?

You should know how Chinese government like what they can control. They can not control bitcoin. This is the reason you will not see China do something like that.

Worth knowing that bitcoin is legal as a property in China but not legal as a currency.

[r_victory]

If they are changing their stance on cryptocurrencies it could be good for the market, as far as I know trading, crypto companies and mining are still banned (I did some research and found nothing to suggest otherwise).

[hugeblack]

No, the Chinese economy is still affected by US decisions, and if the US abandons it, China will certainly focus on more economic partnerships with other countries, but there is certainly no need for Bitcoin (especially with bitcoin market cap being a small amount compared to the size of the Chinese economy).

[Z-tight]

Why are you guys looking for a way to connect China to BTC at every opportunity, they already made their feelings clear about BTC, and that is that. BTC does not really need approval from China, and China does not need BTC, let it stay that way, no need to bring up theories that don't count.

[bitterguy28]

Many people may think otherwise, but as the tariff war is currently blowing hard on all the country involved, it must have lead to Chinese business switching to Bitcoin as many crypto analysis are showing. Considering that the effect of the tariff war is getting hold on the Yuan, even as Chinese business are diverting their yaun into bitcoin many crypto analyst reported.
I had once written a post some weeks ago on the Chinese government continuous stand on crypto, and i stated that, "China may have a loose end on it crypto stand in near future".
Now based on the current Tarrif war, do you think that China will reconsider it initial crypto stand, that is, the crypto banned?

i do not know what can china do or not do since i am not part of their government but i do think they should at least consider bitcoin or just crypto overall they would need that to help them navigate international trades the most and what i think would be a total jaw dropping moment is if china were to add bitcoin to their reserve or acknowledge its legality in their country first before usa does

usa or rather trump has been speaking about adding bitcoin to their reserve but now it only has been promises so it will be a blow to the usa if another country beats them to it and it would be interesting if it were china to do it

[God Of Thunder]

I don't know what all these fucking politicians will do, but these tariff wars are clearly not helping the world. In this way, the rich country will get richer, and the poor countries will remain the same, paying high tariffs to well-developed countries. I don't know how crypto can help in this situation. Of course, China will do whatever it can to save its currency. China is not a small country; they don't fear the US. Trump is doing excessive, and his actions are creating more enemies for the US.

[rdluffy]

You should know how Chinese government like what they can control. They can not control bitcoin. This is the reason you will not see China do something like that.

Worth knowing that bitcoin is legal as a property in China but not legal as a currency.

Exactly, I share the same view as you
The idea of not being able to control something is too dangerous for the Chinese government to do something like that

I would like to hear the opinion of a Chinese person to know how things are going over there in relation to Bitcoin, since we may have incomplete information

But when it comes to the tariff war, I believe that everyone will soon reach an agreement without anything more extreme happening

[LogitechMouse]

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Now based on the current Tarrif war, do you think that China will reconsider it initial crypto stand, that is, the crypto banned?

Check here: https://cointelegraph.com/news/china-counters-tariffs-yuan-devaluation-bullish-btc

It may be very interesting for the Bitcoin community if the Chinese governments is turning to Bitcoin, probably to save the Yuan.

They must change their stance with regards to crypto first before accepting or buying it (at least buying that we know in public). Let's not forget that they banned crypto because they don't want to use something that they don't even have control of it... or at least that's what they said, but rumors said that they are secretly buying Bitcoin.

TBH, I don't know if this will have a huge impact towards the price of Bitcoin. I mean will the investors take this as a bullish news that could push the price even higher. Trump can pump or dump the price because he has the power to do so. Does Xi Jinping also have it? For me, I don't think so. What I only know though is that, this tariffs that's been imposed by US to them will affect them negatively.

Also to add, the US is also considering delisting Chinese Stocks on the US Stock Market. I don't know what will be the extend of the impact towards the Chinese companies, but there will be of course a negative impact on it.

[Jating]

Although in the latest news,

U.S. President Donald Trump abruptly changed his tariff policy again today, pausing his so-called “reciprocal tariffs” for many countries around the world for 90 days.

https://www.cbc.ca/news/world/livestory/trump-pauses-most-global-tariffs-but-changes-nothing-for-canada-and-mexico-9.6717027

But I don't think this is enough though to stop the tariff war, he is just prolonging it and for sure there are countries that are going to respond in a negative way. And so with that, as others opinion, Trump just created chaos around the world. Not sure if this is his intention, but if it is, then everything is cluster f**k right now.

[Stompix]

It may be very interesting for the Bitcoin community if the Chinese governments is turning to Bitcoin, probably to save the Yuan.

Bruh, it makes ZERO sense!

China needs a devaluating currency to keep its exports viable.
With Trump saying the US will build a crypto reserve, why would China subsidize that reserve by allowing its citizens to purchase Bitcoin, inflating the value of the US reserves and making the dollar stronger?

It's pure copium with zero economic reason behind it!

Why are you guys looking for a way to connect China to BTC at every opportunity, they already made their feelings clear about BTC, and that is that. BTC does not really need approval from China, and China does not need BTC, let it stay that way, no need to bring up theories that don't count.

Because they see their stash losing value at every step and they cling to every clickbait of hope they can find for a bull run, even if it doesn't make sense or it's fake news. Reason has left this place, all that's left is cpium and denial.

[Bobcrypto]

No, the Chinese economy is still affected by US decisions, and if the US abandons it, China will certainly focus on more economic partnerships with other countries, but there is certainly no need for Bitcoin (especially with bitcoin market cap being a small amount compared to the size of the Chinese economy).

No condition has ever remain pamernent, and certain decisions taken on certain critical issues may not remain the same forever, if we search deeply on the Internet, you may observe some hidden transactions involving China with Btc transactions secretly.
The politician in China cannot be trusted, they say something openly, and do the opposite before her citizens. Honestly, there are analysis and news that China and Russia may be engaged on business with Bitcoin to reduce the impact of the trade war with America.

[Mate2237]

China will not switch to bitcoin and they will give up this tariff war with US. This is a war of economic domination and this will affect US very well. And if US continue pressing on they might lose the war because businessmen will switch to china goods which might be cheaper and China might take over the African countries with their goods.

Donald Trump should use wisdom in the cold tariff war. Some  of the World leaders like Ngozi Okonjo-Iweala, the Director of World Trade Organization has already warned the ongoing Tariff war that it will affect the world economy. Which some of the countries has started feeling the impact.

[Baofeng]

Not only China, but we have been hearing that Bitcoin should be the one benefiting from this tariff war as there are countries that might switch to Bitcoin or even wealthy people as a hedge.

But I do not think though that China will suddenly see Bitcoin as their friend, they hated Bitcoin for a long time and so I doubt that they will simply make a U-turn.

I will understand some wealthy people to uses Bitcoin as a hedge because it has been proven when the pandemic came. But for countries like China, I don't see them holding Bitcoin.