#Wang Yongli Discusses the New Bitcoin Policy#
Hot Topic Overview
Overview
Wang Yongli, former vice president of the Bank of China, wrote an article in China Foreign Exchange arguing that Bitcoin can only be considered a new type of tradable digital asset, not a true currency, and cannot replace sovereign currencies. He believes that Bitcoin's fixed total supply and extreme price volatility do not conform to the basic laws of monetary development, and its security and risk management are still immature. Regarding Trump's proposed Bitcoin policy, Wang Yongli emphasized that excessive deregulation could weaken the dollar's position and called for the international community to respond rationally and avoid blindly following the trend. He believes that Bitcoin, at the level of "coin," highly imitates gold, but its total amount and phased increments are completely set by the system, which is more stringent than gold, and it is a purely chain-generated digital asset. Once trust is lost, it will vanish into thin air and be worthless, with risks far greater than gold.
Ace Hot Topic Analysis
Analysis
Wang Yongli, former vice president of the Bank of China, wrote an article in China Foreign Exchange arguing that Bitcoin can only be considered a new type of tradable digital asset, not a true currency, and cannot replace sovereign currencies. He believes that Bitcoin highly imitates gold in terms of its "coin" nature, but its total amount and phased increments are completely set by the system, making it more stringent than gold. It cannot grow with the growth of tradable wealth value, which does not meet the essential requirements of currency. Moreover, Bitcoin is a purely chain-born digital asset, and once it loses trust, it will vanish into thin air and become worthless, with risks far greater than gold. Wang Yongli also questioned the feasibility of Bitcoin as a national strategic reserve, arguing that its security and risk management are not yet mature. Regarding Trump's proposed Bitcoin policy, he emphasized that excessive deregulation could weaken the dollar's position and called on the international community to respond rationally and avoid blindly following the trend.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Bitcoin does not meet the essential requirements of currency, cannot become a real currency, and cannot replace sovereign currency
Bitcoin prices fluctuate dramatically, which does not conform to the basic laws of currency development
The feasibility of Bitcoin as a national strategic reserve is questionable, and its security and risk management are not yet mature
The international community should rationally respond to Trump's new Bitcoin policy and avoid blindly following the trend