After Donald Trump announced his victory, Chinese blockchain lawyer Guke and Silicon Valley uncle went to the United States to interview "Bao Er Ye", an old player in the Chinese crypto circle. Bao Er Ye said that the Chinese market far exceeds the United States in trading cryptocurrencies through the USDT stablecoin, and he called China the world's largest mining base. He predicted a bull market for cryptocurrencies and believed that Trump was preparing to "pump up" Bitcoin.
"I think as long as there are two more halvings (Bitcoin Halving), Bitcoin will reach one million dollars per coin. Next halving, I think it will reach $500,000 (Half million dollar), how is this half million dollar calculated?"
He explained that retail investors have been kicked out, and most of them have given up their positions at the bottom, around $70,000-$80,000.
Regarding the market trend after Trump's victory, Bao Er Ye pointed out, "He (Trump) has a lot of Bitcoin people around him, advising him on a plan, and the most amazing thing is that Trump wants the US to buy 1 million Bitcoins as a national strategic reserve (treasure reserve), this is why Bitcoin has recently broken through $75,000, because everyone sees that the US government is really going to allocate funds to buy Bitcoin, so it's a pump."
In addition, the crypto circle is also focused on the possibility of a "reversal of the Bitcoin ban in China", and Bao Er Ye responded that "China's surface is to ban Bitcoin, but in fact it is not. Many people mistakenly think that China is banning Bitcoin, but you have to look at the results, the result is that the Chinese crypto circle has all gone overseas, and has grown stronger overseas, and created brilliance again. China's logic is to turn left with the right turn signal, to borrow power, in fact, the mining farms are all in China. Even to this day, you can see that the number of practitioners in the Chinese crypto circle is astonishingly high, far exceeding the United States, and the number of Chinese people holding USDT is also an astonishing figure, far exceeding the United States."
"In fact, USDT is simply what the Chinese people have played with, and other countries don't have this level of demand."
"Looking back, China is the world's largest mining base, with chip mining farms, power centers, and the world's leading exchanges, and the number of people trading crypto is the highest in the world. The Chinese around the world are still the ones who play crypto the most, much more than the Indians."
"Will the policy change? Now it's not much managed, everyone doesn't want to manage, everyone has interests involved, he can't manage, and managing doesn't benefit him. Not only China, but also many wealthy people in sanctioned countries are living in the United States and also using Bitcoin."
Returning to the description of Bitcoin, Bao Er Ye pointed out, "It should be when I was mining in Inner Mongolia that I discovered the beauty of Bitcoin. At that time, when I was mining Bitcoin, I had to pay 5-6 million RMB in electricity bills every month, and every time I paid the electricity bill, I knew that the cost of producing Bitcoin was very high, I knew that Bitcoin was not thin air, it was manufactured, with real gold and silver electricity, and I haven't even counted the cost of the mining machines."
"I reaffirmed my faith in Bitcoin in Tibet, where I built a mining farm in a hydropower station. Originally that hydropower station was in a idle state, just opening the sluice gates every year and letting the water flow away without generating electricity, because there was no storage equipment. I told their leaders that I could store the electricity and turn it into an energy currency for them. Later, the water went through the generator and was instantly converted into Bitcoin, and this energy conversion turned an energy source into a Bitcoin, so I said Bitcoin is an energy currency, one Bitcoin represents how many tons of water, generating how much electricity. At that moment, I knew Bitcoin had value."
"I know Bitcoin did not appear out of thin air, but is linked to energy, and in the future, the output of Bitcoin will become more and more difficult, and the cost will become higher and higher, so Bitcoin will have price support," he said.
