China is considering launching a strategic Bitcoin reserve and may soon lift its crypto ban, leading to potential benefits for altcoins tied to Chinese blockchain projects.
China wants to compete with the U.S. and strengthen its global position in the cryptocurrency market by embracing digital currencies and leading in crypto and blockchain technology.
When China lifts its crypto ban, a significant amount of money is expected to flow into Chinese tokens, potentially sparking a rally in altcoins connected to Chinese blockchain projects.