As long as China doesn’t recognize Bitcoin, it’ll just keep going up! A lot of people think the U.S. hypes up Bitcoin so much just to lure China into the game—otherwise, it’s hard to deal with their $36 trillion debt. But China isn’t taking the bait, and the U.S. is just hyping itself up... Maybe what the U.S. really wants is for China *not* to recognize Bitcoin? Because if China does recognize it, there are only 21 million Bitcoins, which isn’t nearly enough to go around. It would end up being marginalized by mainstream currencies. But if China doesn’t recognize it, the U.S. has an excuse to exclude China from the game, pump up Bitcoin, and at some point, just scrap Bitcoin altogether. Then they could wipe out their foreign debt in one go, maybe even make a profit, and return to the dollar. After all, Bitcoin can’t solve its own value issues. Encryption and secrecy? Anyone with basic cryptography knowledge knows there’s no such thing as ultimate encryption. Any encryption can eventually be cracked with upgrades. In other words, Bitcoin won’t be the ultimate cryptocurrency. Its secrecy is just so-so, and it has no intrinsic value—it’s just a string of numbers. Only with recognition from governments like the U.S. can it survive as a kind of dollar accessory. It might steal some of the dollar’s spotlight, but it won’t really shake the dollar’s position.