China was the world's No.

0. China was the world's No. 1 Bitcoin holder and mining country.

1. China's foreign exchange reserves fall, despite preventing dollar outflows during China's debt crisis

2. After confirming that it was leaked abroad through Bitcoin, etc., in September 2017, major cryptocurrency exchanges were closed along with a complete ban on ICOs (crypto disclosure)

Bitcoin hashrate (mining capacity) has since dropped significantly in 2021, with many Chinese mining companies moving to the U.S. and other countries, even banning cryptocurrency mining in 2021

3. US accelerates efforts to incorporate Bitcoin into institutional finance

In December 2017, **CME (Chicago Commodity Exchange)** and **CBOE (Chicago Options Exchange)** introduced bitcoin futures trading, opening the door to institutional investment.

Since then, major financial institutions (e.g., Goldman Sachs, JPMorgan) have begun offering crypto-related products and services

4. China's tightening of regulations has led global investors to seek a more stable regulatory environment, with a clear U.S. regulatory approach giving investors confidence

In particular, the Securities and Exchange Commission (SEC) in the U.S. is reviewing the approval of Bitcoin ETFs (Exchange-Traded Funds) and intensifies its efforts to incorporate the market into the institutional sphere

As a result, institutions start investing in Bitcoin in earnest, mainly in the U.S

5. Bitcoin miners move to U.S. due to China's mining ban

U.S. emerges as world's largest Bitcoin mining country as large mining data centers build in low energy costs areas such as Texas, Wyoming and more

This raises the level of decentralization of the Bitcoin network and gives the U.S. an opportunity to become the center of the market.

6. The market expands further as big companies like Tesla, MicroStrategy buy Bitcoin on a large scale, and consider introducing it as a payment method

Financial technology companies such as PayPal also provide cryptocurrency payment services, increasing public access.

7. China abandons Bitcoin, instead tightening reserves of gold.

8. U.S. Considers Adopting Already Large-Handed Bitcoin As Strategic Reserve Asset In lieu of Gold To Maintain Dollar Defeat

8. President Donald Trump has announced plans to purchase 200,000 Bitcoin each year over the next five years and hold up to 1 million, showing his intention to foster Bitcoin as a strategic asset similar to gold.

9 This US bitcoin strategy is interpreted to preserve the value of the dollar and strengthen financial hegemony. Bitcoin is called digital gold due to its limited supply and decentralized characteristics, and it is attracting attention as a means of storing value.