Bitcoin (BTC) Adoption Could Grow Further if China Follows U.S. Crypto Embrace
The Trump administration’s formation of a U.S. Strategic Bitcoin Reserve might have China re-thinking its hardline stance against crypto and that could be key for accelerated global adoption of BTC, asset manager Grayscale said in a research report Monday.
“The most important country to watch in this regard is China,” said Grayscale, adding that if the country eases its crypto restrictions “it could significantly boost global adoption.”
President Trump last month directed his administration to form a Strategic Bitcoin Reserve to — at a minimum — hold the assets that have been seized by the government.
Grayscale noted that current Chinese government policy bans most crypto activities, such as trading and mining, but permits the holding…
