June 14, 2024

Why is China underestimating the position of bitcoin in the ranking of cryptocurrencies?

Why is China underestimating the position of bitcoin in the ranking of cryptocurrencies?

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A review by Weiss Crypto Ratings states that the authors of theThe official Chinese cryptocurrency rating is purposefully underestimating the position of bitcoin.

A review of the agency was prepared specifically forpublication of the next cryptocurrency rating compiled by the Center for Information and Industry Development (CCID), in which BTC received 11th place. In total, this list contains 35 crypto projects.

According to Weiss analysts, the Celestial Empire considers Bitcoin (BTC) a dangerous asset, since it is completely decentralized and independent.

The agency report states:

"China will never use Bitcoin.Bitcoin is an open, decentralized, and uncensored digital asset – the opposite of everything it stands forCCP [Chinese Communist Party]."

The first and second place in the ranking took EOS and Tron. According to its compilers, these projects are the most promising.

However, skeptics argue that the dataaltcoins are centralized and governed. The Chinese authorities are focusing precisely on such projects, since they are easier to control and they do not pose any threat to the country's leadership.

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