“A very big opportunity” – Cryptocurrencies are suddenly preparing for a “massive” earthquake in China after the price boom of Bitcoin, Ethereum and Ripple

Bitcoin has swung wildly this week, with US President Joe Biden and former President Donald Trump being warned there is “only one way to save the dollar.”

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The price of Bitcoin has surpassed its previous all-time high in recent months – rising to over $70,000 per bitcoin, helping the price of Ethereum triple and increasing Ripple's XRP by almost 50% since its lows in 2022 – as Ripple's CEO made a new “inevitable” decision. Cryptocurrency Exchange-Traded Funds (ETF) Anticipated Following the Success of Spot Bitcoin ETFs on Wall Street.

Now, with the Federal Reserve quietly admitting that gold is replacing the US dollar, Bitcoin and cryptocurrency investor Brock Pierce said it is only a matter of time before China reopens its digital doors to cryptocurrencies after its crackdown in 2021 sent the price of Bitcoin crashing.

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Forbes 'The Only Way to Save the Dollar' – Trump and Biden Warn of Collapse as Fed Prints 'A Trillion Dollars Every 100 Days' By Billy Bambrough

Chinese President Xi Jinping has overseen a crackdown on Bitcoin and cryptocurrencies in China that has affected… [+] Price of Bitcoin, Ethereum, XRP and other major cryptocurrencies.

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“Will China open its doors? [to crypto]? “I would say it's inevitable,” Pierce, a former child actor who co-founded Tether, a stablecoin linked to the US dollar, in Hong Kong a decade ago, told the South China Morning Post. “A question of when.”

Pierce, who is also the head of the Bitcoin Foundation, teased a new Hong Kong-based project before the SCMP, saying he was “excited about what's happening in Hong Kong,” a special administrative region in China that recently got the green light for a handful of territories. Bitcoin and Ethereum ETFs are following Wall Street's lead.

Last month, attendees at a Bitcoin conference in Hong Kong sparked speculation that spot Bitcoin ETFs in Hong Kong may eventually be opened to mainland Chinese investors.

“I think Hong Kong is progressing in many ways,” Pierce said. “I think the main opportunity in Hong Kong lies in that [traditional finance]This is where the Hong Kong dollar stablecoin has huge potential.”

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Forbes Bitcoin Prepares to Go 'Parabolic' After Repeat of 'Amazing' Price Breakout in 2017By Billy Bambrough

The price of Bitcoin has skyrocketed over the past year, boosting Ethereum, XRP, and XRP more broadly. [+] Crypto market.

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Pearce added that China's supply chain advantage means that “there's clearly a very big opportunity out there.” [in Hong Kong]”.

This week, there were further signs that Hong Kong and China are gradually preparing to return to Bitcoin and cryptocurrencies, as Dubai-based cryptocurrency exchange Bybit announced that it will allow Chinese citizens living abroad to open accounts and trade cryptocurrencies.

“Bybit, one of the world's top three cryptocurrency exchanges by volume, is pleased to announce the expansion of our service offerings to the overseas Chinese community,” the company said in a statement. “This move is in response to the growing demand for safe, reliable and easy-to-use cryptocurrency trading platforms among the Chinese diaspora and international Chinese communities.”

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