CNBC says recent reports suggest that China and some Middle Eastern countries are considering adopting Bitcoin purchasing strategies. The potential move comes amid growing global interest in Bitcoin as a strategic asset.
Coinbase CEO and Trump Transition Team Advisor Brian Armstrong noted in discussions ahead of the major summit that several Gulf countries are already considering BTC purchasing strategies. Additionally, if the US decides to implement the Bitcoin reserve program, there are indications that the Chinese government is investigating similar measures.
No official BTC purchase plans have been announced by the government, but the discussion highlights the growing role of digital assets in geopolitical financial strategies. Once the dominant hub of Bitcoin mining, China has an infrastructure that rapidly resumes mining operations by leveraging hydroelectric resources.
Some experts point out that BTC mining has previously been used by countries like Iran as a tool to avoid economic sanctions. This raises questions about whether a country wants to accumulate Bitcoin as a hedge against economic instability, or whether it wants to acquire strategic advantages in the global financial sector.
*This is not investment advice.
