Did the Chinese government created Bitcoin to destroy the U.S. dollar? There have been many conspiracy theories on who created Bitcoin since the first cryptocurrency coin’s creation.
The search to find the real inventor(s) of Bitcoin started gaining steam after Bitcoin price reached an all time high of $19,498.63 USD per coin on December 18, 2017.
Who really created Bitcoin?
Who is Satoshi Nakamoto? Is he the disgruntled Japanese leaving in the United States, who everyone claimed was victim of the 2008 housing & financial market? Was it the National Security Agency (NSA), The Kremlin maybe?
Who is behind Bitcoin? Those are some of the questions crypto analysis, researchers and enthusiasts have been asking over the years.
Bitcoin creator conspiracy theories
Now, the newest theory is that the Chinese government created bitcoin to kill or at best, destabilize the United Sates Dollar (USD).
This theory started gaining steam following Chinese president, Xi Jinping’s statement that his government will begin to embrace the technology of bitcoin; the blockchain.
After the remarks, the price of Bitcoin shot up by over $2,000 (35%) in less than 24 hours. That was a significant increase giving Bitcoin struggled to break its downtrend line all month long.
China’s drive to dominate cryptocurrency
The founder and CEO of Facebook, Mark Zuckerberg has warned Congress that China is working on its own state-sponsored cryptocurrency in order to dethrone the US dollar’s global supremacy. The crypto, the Chinese hope will become the standard for how money is exchanged globally.
There have been rumors that the Chinese’s state-sponsored bank; People’s Bank of China, is working diligently to map the Chinese Yuan to its own crytpocurrency.
The battle to dominate the Fintech world is been fought in the shadow by the two superpowers; starting with the trade war. China is currently the leader in Bitcoin mining. Several Bitcoin mining pools have been thoroughly established, which makes China the leader in hosting the lion share of bitcoin miners.
What’s your thoughts on the accession that the Chinese government created Bitcoin to minimize the US dollar;s international dominance?
Mathieu is a Information technology professional with over 15 years of experience. He started one of the first bitcoin blogs existed in 2010. He started writing about, investing in bitcoin and promoting the first cryptocurrency when only a few technological savvy people knew about it. Mathieu is a world traveler who enjoys culture, technology, finance, salmon, rice and beans. He’s cool, collected and knows a great deal about blockchain technology.