It might have nothing to do with bitcoin, however, how can the Xi of the Jin and the Ping declare that they are the leader of blockchain technology if they do not hold the token of the best and the biggest blockchain in the cryptospace?
They don't view Bitcoin the same way you and I do. They see it as something
they can not control so they don't want to see it succeed or even exist. And when I say "they" I don't mean just the Chinese government, but all [centralized] governments.
But I personally believe they'll eventually start FOMO buying bitcoin though. The same way they've been accumulating gold over the past 3 years.
What's that saying? You kiss the hand you can't cut? ...
If they do not hold bitcoin and have the biggest amount held in treasury then their declaration will be considered very much similar to the products that are being created in their country, made in China heeheheh. I am assuming that you know what this made in China term implies. This is very much different and very much lower than what made in the US and A implies.
Made in China no longer means what it used to mean. Those low quality rip-off products is what they started with and in order to fulfill a demand that existed in the world (eg. sell cheap products to Americans who can't afford buying anything good).
Today Chinese products also include high quality products. From Apple products that are only American in name all the way to their electronics, smart devices, vehicles, etc. That's how they are overtaking the world!!!