Max Keiser: Chinese stablecoin is a threat to the U.S.
Keiser noted that China does not disclose details of the project, but said:
I can tell you that the cryptocurrency that China is developing will be provided with gold. This is the key point. First, China has 20,000 tons of gold. Secondly, if such a currency is produced, the dollar will collapse.
According to local media reports, the People’s Bank of China plans to become the first central bank to deploy its own digital currency, DCEP, within the next six years. Very little is known about the Chinese cryptocurrency at the moment. However, it is clear that the Communist state plans to become a global superpower setting its standards in the cryptographic market.
China’s spike in interest in the cryptocurrency arose after President Xi Jinping’s approval of Blockchain technology, which underlies the Bitcoin. Many experts believe that it was his words that pushed the BTC price up 40 percent on October 25.
Keyser also noted that gold is currently making a significant leap in price, but for some reason this fact remains unnoticed.
Recall that Binance CEO Changpen Zhao recently predicted that the price of BTC may reach 16,000 U.S. dollars “in the near future” in case of continued growth of Chinese consumers to the cryptocurrency.