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The Chinese government holds $3.5 trillion in U.S. treasuries. The profit from "short-selling bitcoin" wouldn't even qualify as a rounding error to them.
by Analemma_ 9y ago
The Chinese government holds $3.5 trillion in U.S. treasuries. The profit from "short-selling bitcoin" wouldn't even qualify as a rounding error to them.
- endless1234 9y agoIf we assume the Chinese government manages to short ALL current bitcoin (16.5 million), and that the gain from shorting will be $2000 per BTC (current value is about ~2300), it'll still not be even a percentage of 3.5 trillion.
- SimonPStevens 9y agoIt might be insignificant to China the country. But a government is made up of individuals. It's entirely possible that in an already corrupt environment, the dozen or so individuals on the crypto committee may be convinced to make decision that benefit them personally. Make a few impactful decisions at your day job, block a few exchanges, short bitcoin personally, profit personally. Wouldn't be hard to make a million or two if you knew of a price fall coming up in advance, there are plenty of ways to get leverage on the bitcoin markets these days.
- dreamthtwasrome 9y agoSeems like the operative gambit would be one-or-more miner/exchange pays govt official(s) lots of money to "crackdown" on BTC, except not as much on them. win-win