Chinese capital flight always shakes things up. It will be interesting to see if this scenario plays out. It's nice to see an article that's not all about ETFs. What's your take, @TomK?
141 sats \ 6 replies \ @grayruby 24 Apr
It’s interesting. Here in Canada it is getting increasingly costly for foreigners to park their money in real estate. There is a foreign buyers tax and a vacant home tax. I wonder as the cost of buying and maintaining real estate increases if this article is correct and a lot of Chinese capital flight will instead opt for bitcoin.
reply
83 sats \ 5 replies \ @siggy47 OP 24 Apr
Probably the guys who could buy foreign real estate will opt for the Hong Kong ETFs? Who knows?
reply
54 sats \ 4 replies \ @grayruby 24 Apr
I don't believe Chinese mainlanders can buy those.
reply
50 sats \ 3 replies \ @siggy47 OP 24 Apr
Yeah. That's what I pointed out earlier. Tom noted that exceptions will probably be made for the elites. Speaking of China, I just listened to TFTC about mining centralization and China control. Disturbing.
reply
54 sats \ 2 replies \ @grayruby 24 Apr
I just started listening to that this morning as well. Haven't gotten too far into it. I was at the mechanic getting my snow tires switched out and listened to Preston talking to Pete about Real Bedford and when that one was done I started TFTC but I am only about 15 minutes in.
reply
50 sats \ 1 reply \ @siggy47 OP 24 Apr
I'm listening to the Real Bedford one now. We're on the same rotation.
reply
74 sats \ 0 replies \ @grayruby 24 Apr
That’s a fun one. Learned a bit about the tiers as kind of capital even these lower tier teams need to commit.
reply
27 sats \ 4 replies \ @TomK 24 Apr
I'll throw in a wild hypothesis alongside the empirical observation: the approval of bitcoin ETFs in Hong Kong could only serve the purpose of mitigating this capital flight and possibly also releasing pressure from the various asset inflation bubbles in a controlled manner.
reply
42 sats \ 3 replies \ @siggy47 OP 24 Apr
That's what I figured, but then I read the other day that mainland Chinese investors would be barred from investing in these ETFs? I know there are always gaping loopholes in China.
reply
75 sats \ 2 replies \ @TomK 24 Apr
I think the ordinary Chinese get to deal with the cudgel of the state and capital controls, while those close to the system richer etc via Hong Kong are thrown this bone
reply
42 sats \ 0 replies \ @Satosora 24 Apr
Im betting hong kong and macau.
reply
42 sats \ 0 replies \ @siggy47 OP 24 Apr
That's what I figured. It's good to know people.
reply
27 sats \ 0 replies \ @Satosora 24 Apr
I wouldnt be surprised that they hold quite a bit of bitcoin.
Maybe the individual officials, but I dont see the government holding it.
Or is it the government, and they are not letting the people purchase it?
Werent they on about making their own cryptocurrency?
reply