Currently, all the momentum in the crypto industry is coming from China. They have blockchain plans for a digital future and looking forward to launching their own cryptocurrency. On the other hand, the US is still struggling with its regulatory uncertainties.

Many nations, particularly those in Asia have started research and development on their own central bank digital currencies. Meanwhile, the US is in danger of lagging behind in the crypto race if it refuses to transition to the digital world.

Mike Novogratz, Galaxy Digital founder, stated that the US will lose the digital world race as well as its reserve currency status.

And if we don’t transition to a digital world that will change. We are way behind on a crypto USD. China is coming. And coming fast. They are way ahead in fintech. Thier President just publicly claimed his support to all things blockchain. We risk losing our reserve status https://t.co/SNbBjdtvDD — Michael Novogratz (@novogratz) November 10, 2019

Co-founder of Anthony Prompliano, Morgan Creek, also added that future portfolios will be 100% digital assets. He said investors will have the same asset allocations but their holdings will be digital assets some years to come.

In the future, portfolios will be 100% digital assets.



Investors will have the same asset allocations, but they’ll hold digital stocks, digital bonds, digital currencies, and digital commodities.



Just a matter of time. — Pomp ? (@APompliano) November 9, 2019

Just today, an article was published in Chinese state media giving an explanation about Bitcoin to the general public. This is considered a great move considering the fact that it’s coming from a nation that has been against crypto for the past two years.

Chinese state newspaper today (Xinhua)



Bitcoin: The First Successful Application of Blockchain Technologyhttps://t.co/85icR9FcAH pic.twitter.com/8ZOF6UBSzw — Matthew Graham (@mg0314a) November 11, 2019

Last week, crypto mining was removed from the official list of industries that China’s National Development and Reform Commission wanted to eliminate. Unsurprisingly, Asian exchanges are dominating the crypto trading industry according to recent research.

We recently plotted the flow of Bitcoin *between* wallets in different exchanges.



Some interesting insights ??



1) Huobi wallets sent the most $BTC to Binance wallets in 2019



– Total of 259K BTC was sent

– Total # of txns: 48K

– Avg txn value: 5.4 BTC pic.twitter.com/VUj93ScisM — TokenAnalyst (@thetokenanalyst) November 7, 2019

The banking system is currently unsustainable with the printing of more money by the FED to support banks. The American President’s advocacy for negative Interest rates suggests how unstable the dollar is. A digital USD may be the major support to keep the currency alive before America is left behind in the digital race.

The Federal Reserve should get our interest rates down to ZERO, or less, and we should then start to refinance our debt. INTEREST COST COULD BE BROUGHT WAY DOWN, while at the same time substantially lengthening the term. We have the great currency, power, and balance sheet….. — Donald J. Trump (@realDonaldTrump) September 11, 2019

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