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Expert: China's Digital Yuan Will Target the Dollar, Not Bitcoin

Published 07/06/2020, 06:15 AM
Updated 07/06/2020, 08:00 AM
Expert: China's Digital Yuan Will Target the Dollar, Not Bitcoin

Having learned what it needs from the cryptocurrency space and blockchain, China will aim to rival the U.S. dollar, not Bitcoin (BTC), with its highly-anticipated digital yuan.

Matthew Graham (NYSE:GHM), a veteran investment banker in China and the CEO of Beijing-based Sino Global Capital — analyzed what is known so far about the forthcoming digital currency and argued that the Chinese government sees new technologies as a “leapfrog opportunity” to chip away at the dollar’s hegemony.

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