China to enact economic mobilization law on October 1: risks for bitcoin
- —The law introduces expropriation for the first time, not just requisition: data, software and production facilities may be transferred to the military
- —Chinese oil and gas companies spent about 2.3 trillion yuan ($343 billion) on energy security over a decade
- —In the short term, a conflict would trigger risk-off and a BTC sell-off; in the long term, it would strengthen demand for bitcoin as a neutral asset
- —Taiwan is considering creating a strategic BTC reserve
Why it matters: Escalation around Taiwan and sanctions could trigger a sharp risk-off in crypto, but strengthen bitcoin's long-term safe-haven narrative.
Source: Cryptoast