July 24, 2024

Max Keyser: Chinese stablecoin poses a threat to the United States

Max Keyser: Chinese stablecoin poses a threat to the United States

According to financial analyst Max Keizer, the US is facing an economic collapse due to China, whose purchase volumegold recently exceeded 100 tons.

Keyser noted that China did not disclose the details of the project, but said:

 I can tell you that cryptocurrency,which China is developing will be backed by gold. This is the key point. First, China has 20,000 tons of gold. Secondly, if such a currency is issued, the dollar will collapse.

According to local media reports, the People's Bank of Chinaplans to become the first central bank to roll out its own digital currency called “DCEP” within the next six years. At the moment, very little is known about Chinese cryptocurrency. However, it is clear that the communist state plans to become a global superpower, setting its own standards in the crypto market. 

There has been a surge of interest in cryptocurrency in Chinafollowing President Xi Jinping's approval of the Blockchain technology that underlies Bitcoin. Many experts believe that it was his words that pushed the price of BTC up by 40 percent on October 25.

Keyser also noted that gold is currently making a significant breakthrough in prices, but this fact for some reason goes unnoticed.

As a reminder, Binance CEO ChangpengZhao recently predicted that BTC price could reach $16,000 “soon” if the Chinese consumer continues to grow towards cryptocurrency.