They have seen again and again how BTC has stood the test of times since 2008. They know they can’t control but they know they can own as much as they want. They are thinking 50 years ahead, like in anything else. And in the process ward of USD. What happens is they make it a policy that miners can only sell to PBOC. Yes there will be leakage but being communist and in control, and giving a fair market price, and possibly subsidies, they can pretty much keep everyone happy.
US and Russia are not far behind. US is accumulating IMHO (In my humble opinion) since last year - GS and JPM s of the world. They are nothing but state sponsored banks. We all know that and Jamie just proved that to us again. Russia on the other hand has cheap electricity and is already planning how to monetise this. A war is coming and this time its Bitcoin.
The markets took a pause no doubt after all these announcements, but its all “Shrugged off” and move on. Crypto wars are coming as Fiat needs an outlet with over 50 Trillion debt hangover. China is just preparing for that. More nations will follow and lead to a HyperBitcoinCycle.
Its a sign of seriousness and mainstream applications for BTC and Altcoins. Accumulate as much as you can. 2X or not. There are 21 million coins out there, they might control 10 million, me and you can still have 100 each and be happy.
Imagine that majority of the countries haven’t even jumped in. Imagine that 99% of institutional money is sitting on sidelines. Its a belief and a fact that our current monetary system is broken down. And that belief itself is so valuable.
Its the calm before the storm. You know what to do. BUY and HODL.