Saudi Press

Saudi Arabia and the world
Monday, Jun 30, 2025

Michael Saylor: China's BTC Mining Ban Is A Trillion-Dollar Mistake

Michael Saylor: China's BTC Mining Ban Is A Trillion-Dollar Mistake

China's crackdown on Bitcoin mining and driving them out from its borders, was a trillion-dollar mistake, argued the CEO of MicroStrategy, Michael Saylor.

During a recent interview with Bloomberg, Michael Saylor spoke about the adverse short-term effects of China’s latest crackdown on Bitcoin mining. While he acknowledged the hashrate and price declines, Saylor believes this ‘mistake’ from the Asian country is an excellent opportunity for others.

China intensified its crackdown on the cryptocurrency space this year and ordered bitcoin miners to cease operations, citing environmental issues.

China is the country that has the largest share of BTC mining, and these actions impacted the network immediately. Not only prices started to fall, but also the hashrate sunk to a multi-month low.

Some reports indicated that some miners are relocating to other countries like Kazakhstan and the US, and there are already signs of recovery.

Michael Saylor commented on this topic while speaking to Bloomberg and attributed the price drops to Chinese miners being forced to liquidate their positions.

Saylor called China’s decision to oust miners a “trillion-dollar mistake” for the country, which could actually provide opportunities for others.

“China had a 50% market share of Bitcoin, and they were generating $10 billion a year and a business that was growing 100% year over year. And then, the government cracked down on it and squeezed the entire industry out of China. I think that given the growth rate of Bitcoin, this will turn out to be a trillion-dollar mistake for China.”

Although Saylor pointed out that a nation as powerful as China could “afford to make a trillion-dollar mistake,” he still classified the move as a “tragedy.”

In any case, the low prices are a “great opportunity for Western investors,” including the company he runs, to accumulate more portions of the asset at a discount.

Saylor believes North American Bitcoin miners will also benefit from this, saying:

“Their cost is the same, but they are going to generate 50% more revenue or 75% more revenue for quite a while.”

Source: Michael Saylor: China's BTC Mining Ban Is A Trillion-Dollar Mistake – Fintechs.fi

Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
China Unveils Miniature Insect-Like Surveillance Drone
Marc Marquez Claims Victory at Dutch Grand Prix Amidst Family Misfortune
Iran Executes Alleged Israeli Spies and Arrests Hundreds Amid Post-War Crackdown
Trump Asserts Readiness for Further Strikes on Iran Amid Nuclear Tensions
Iran's Parliament Votes to Suspend Cooperation with Nuclear Watchdog
Trump Announces Upcoming US-Iran Meeting Amid Controversial Airstrikes
Trump Moves to Reshape Middle East Following Israel-Iran Conflict
NATO Leaders Endorse Plan for Increased Defence Spending
U.S. Crude Oil Prices Drop Below $65 Amid Market Volatility
Explosions Rock Doha as Iranian Missiles Target Qatar
“You Have 12 Hours to Flee”: Israeli Threat Campaign Targets Surviving Iranian Officials
Oman Set to Introduce Personal Income Tax, First in Gulf
Germany and Italy Under Pressure to Repatriate $245bn of Gold from US Vaults
Iran Intensifies Crackdown on Alleged Mossad Operatives After Sabotage Claims
Trump Praises Iran’s ‘Very Weak’ Response After U.S. Strikes and Presses Israel to Pursue Peace
WATCH: Israeli forces show the aftermath of a massive airstrike at Iran's Isfahan nuclear site
We have new information and breaking details to share about what is shaping up to be a historic air campaign tonight
Six Massive Bombs Dropped on Fordow; Trump: 'A Historic Moment for the U.S., Israel, and the World'
Fordow: Deeply Buried Iranian Enrichment Site in U.S.–Israel Crosshairs
United States Conducts Precision Strikes on Iran’s Nuclear Sites
US strikes Iran nuclear sites, Trump says
Pakistan to nominate Trump for Nobel Peace Prize.
Israel Confirms Assassination of Quds Force Commander in Tehran
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
G7 Leaders Fail to Reach Consensus on Key Global Issues
Mass exodus in Tehran as millions try to flee following Trump’s evacuation order
Iranian Military Officers Reportedly Seek Contact with Reza Pahlavi, Signal Intent to Defect
Vietnam Emerges as Luxury Yacht Destination for Ultra‑Rich
China's Iranian Oil Imports Face Disruption Amid Escalating Middle East Tensions
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Israeli Airstrike Targets Iranian State TV in Central Tehran
President Trump is leaving the G7 summit early and has ordered the National Security Council to the Situation Room
Netanyahu Signals Potential Regime Change in Iran
Analysts Warn Iran May Resort to Unconventional Warfare
Iranian Regime Faces Existential Threat Amid Conflict
Energy Infrastructure Becomes War Zone in Middle East
Iran Conducts Ballistic Missile Launches Amid Heightened Tensions with Israel
Iran Signals Openness to Nuclear Negotiations Amid Ongoing Regional Tensions
Shock Within Iran’s Leadership: Khamenei’s Failed Plan to Launch 1,000 Missiles Against Israel
Trump's Anti-War Stance Tested Amid Israel-Iran Conflict
UK Deploys Jets to Middle East Amid Rising Tensions
Exiled Iranian Prince Reza Pahlavi Urges Overthrow of Khamenei Regime
Wreck of $17 Billion San José Galleon Identified Off Colombia After 300 Years
Iran Launches Extensive Missile Attack on Israel Following Israeli Strikes on Nuclear Sites
Israel Issues Ultimatum to Iran Over Potential Retaliation and Nuclear Facilities
Black Box Recovered from Air India Crash Site
Coinbase CEO Warns Bitcoin Could Supplant US Dollar Amid Mounting National Debt
Trump to Iran: Make a Deal — Sign or Die
Operation "Like a Lion": Israel Strikes Iran in Unprecedented Offensive
×