June 19, 2024

China's national cryptocurrency will be provided with gold

China's national cryptocurrency will be provided with gold

According to financial analyst Max Kaiser, China's national cryptocurrency will be securedgold, not US dollar. The expert also noted that gold is currently reaching new significant highs in relation to fixed currencies.

This will be a serious threat to the US dollar. Recent reports show that China bought more than one hundred tons of gold. The United States may fall into the trap set by the communist state.

“China will deploy cryptocurrency, which will be provided with gold. China currently has 20,000 tons of gold and will not rely on the US dollar to support its cryptocurrency. ”, — Kaiser remarked.

It is expected that the People's Bank of China will becomethe first central bank to deploy its own digital currency (DCEP). The financial institution has been working on this project for over 6 years, the process is now likely to accelerate due to President Xi Jinping's approval of blockchain technology. Some analysts have no doubt that thanks to this statement and the subsequent reaction of the Chinese market, the price of Bitcoin increased by 40%.

According to Max Kaiser, in the near future Bitcoin will be trading at $ 100,000:

“The forecast is still $ 100,000+, that'sjust a matter of time. But honestly, in dollar terms, this number is infinite. BTC can trade at $ 5,000,000 or $ 10,000,000. ”

CEO of Binance crypto exchange ChangpengZhao expects the price of Bitcoin to reach $16,000 soon. This will significantly strengthen China's economy, helping to transform the communist state into a global superpower.