Ben Zhou, co-founder and CEO of crypto exchange Bybit, has expressed a bullish stance on Bitcoin, pointing to possible capital inflows from China as trade tensions rise between the United States and China.
Zhou retweeted a message from co-founder of BitMEX Arthur, who gave out one of the key points on X (formerly Twitter): “US vs China Tariff war… China will try to lower RMB to counter the tariff. Historically, whenever RMB drops, a lot of Chinese capital flows into BTC. Bullish for BTC.”
Hayes said, “If not the Fed then the PBOC will give us the yachtzee ingredients. CNY deval = narrative that Chinese capital flight will flow into $BTC. It worked in 2013, 2015, and can work in 2025. Ignore China at your own peril.”
Consistently, it is the Chinese yuan that is under pressure, and the People’s Bank of China (PBOC) may be poised to allow it to devalue, making investors attentive. In the past, such action created high demand for bitcoins from the Chinese investors in a bid to hedge the falling value of the yuan.
Zhou’s commentary supporting Hayes’ sentiment shows increasing belief that the return of geopolitical risk would ignite demand for Bitcoin, especially by Asians.
Also Read: Arthur Hayes Predicts Bitcoin Dominance Will Reach 70%
