Pomp Tells President Trump That China Is Planning to Buy ‘All Bitcoins’

While Bitcoin continues on its own trajectory, and China and United States of America battle for the number 1 position, Pomp had some wise words for the US President, Donald Trump.

On Saturday, the founder of the Morgan Creek Digital said, “Someone tell President  @realDonaldTrump that there are only 21 million Bitcoin and China is planning to buy them all. This is going to be the real US – China competition. That should get him to pay attention. The guy hates losing and will try to buy them all.”

Countering Pomp, one user said, China was past the planning stage. The user dai, “Planning? China already controls most of the mining. And more then likely they own most of bitcoin. USA should invest in USA company  @Ripple and use $xrp that is 1500 times faster and cheaper. Not to mention 1500 transactions per second.  @realDonaldTrump #XRPcommunity.”

While US has shown its fear and reluctance to accept bitcoin and the crackdown on Facebook’s Libra is proof of it. However, China, has moved past its initial distrust of bitcoin and blockchain technology , and has already taken steps towards, accepting bitcoin, reported news portal, News Logical.

The proof of the pudding is when earlier this month we reported that cryptocurrency exchange Binance started P2P trading functionality on its platform. According to the official announcement, users were allowed to trade BTC, ETH and USDT available for trading against CNY (Chinese Yuan).

However, initially the P2P service will only be available to Android users, that have Binance accounts registered for over 30 days.

P2P exchanges have proven extremely popular in India to circumvent the RBI banking ban.  When Twitter users asked Binance CEO Changpeng Zhao about plans for an India launch, he said, “careful what you wish for”, possibly suggesting that the exchange may launch its P2P feature in the Indian market soon.

Image credit: File photo