To distract from this mass CNY devaluation and to dissuade Chinese citizens from escaping to safe havens fixed supply assets, like bitcoin, they just repeating themselves maybe in the hope Bloomberg twists their words to the point of fake news.
Pure copium, by that logic considering US inflation and how much the Fed is dumping on Wall Street every month bitcoin would be worth 1 million each already. Instead the line only keeps going up while bitcoin still can't reach the previous 60k high.
If anything capitalists/investors have many different ways to hedge against inflation both in the US and China and crypto is parhaps a minor part of any valuable portfolio not held by some random cryptobro/fascist.
Pure copium, by that logic considering US inflation and how much the Fed is dumping on Wall Street every month bitcoin would be worth 1 million each already. Instead the line only keeps going up while bitcoin still can't reach the previous 60k high.
If anything capitalists/investors have many different ways to hedge against inflation both in the US and China and crypto is parhaps a minor part of any valuable portfolio not held by some random cryptobro/fascist.