
BTC: Chinese financial weapon
Bitcoin (BTC) traded on either side of USD 60,000 throughout the weekend. Despite China's efforts to limit the development of BTC, the founder of PayPal wonders if BTC is a ``Chinese financial weapon'' against the United States. Current increase in demand for mining equipment Peter Thiel, said he wondered "whether at this point BTC should also be considered in part a Chinese financial weapon against the United States" and that "the long BTC from China." PayPal founder Thiel's remarks mirror reports last year that former Director of National Intelligence John Ratcliffe wrote to SEC Commissioner Jay Clayton to express concern about the concentration of crypto mining in China. While China has accounted for the majority of BTC mining since the asset's emergence, its relative share is...
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