Wang Yongli, former vice president of Bank of China: A rational view of Trump's new Bitcoin policy

Wang Yongli, former vice president of Bank of China, stated in the first issue of "China Forex" in 2025, "Rationally Looking at Trump's Bitcoin New Policy", that bitcoin highly imitates gold in terms of "currency", and its total amount and phased increment are completely set by the system. It is more stringent than gold (the actual reserves of gold are unclear), and the quantity that can be used for exchange transactions is more limited. It cannot grow with the increase of tradable wealth value, and does not meet the requirements of currency essence. In addition, bitcoin is a purely digital asset that is born from the blockchain, rather than a natural physical asset. Once it loses trust, it will be worthless and the risks are far greater than gold.

With Trump winning the US presidential election, his proposed new policy on bitcoin has received widespread attention and discussion. We need to calm down, look at it objectively and rationally, and avoid making revolutionary mistakes. The United States is difficult to guarantee that all new bitcoins can be generated in the United States, and it is even more difficult to guarantee that they all belong to the US government. Whether it is the government's (finance) strategic reserves or the US Federal Reserve (central bank) as a strategic reserve for the US dollar, there are risks and uncertainties.