The Bitcoin arms race: CZ says it's 'inevitable' China builds BTC reserve

Bitcoin saw another brutal correction with cascading liquidations and a "mega dump" yesterday. About $1.6 billion was liquidated across crypto in this "crazy" reset and 11% was lost from crypto's market cap — What happened? In more bullish Bitcoin news, CZ said that it's "inevitable" that China will build a BTC reserve. Elsewhere, Ripple CEO Brad Garlinghouse slammed the show 60 Minutes for omitting information in a crypto segment in which he appeared, and Google's new quantum computing chip solved a 30-year-old problem, but does it pose a threat to crypto encryption?Further reading:Bitcoin sees most liquidations since 2021 as ‘crazy’ reset wipes $1.6BChangpeng Zhao says it’s ‘inevitable’ for China to build a BTC reserveRipple CEO criticizes 60 Minutes for not including info on XRP rulingGoogle unveils new quantum computing chip: Clock ticking for crypto encryption?Rise’n’Crypto is brought to you by Cointelegraph and is hosted and produced by Robert Baggs. You can follow Robert on Twitter and LinkedIn. Cointelegraph’s Twitter: @CointelegraphCointelegraph’s website: cointelegraph.comThe views, thoughts and opinions expressed in this podcast are its participants’ alone and do not necessarily reflect or represent the views and opinions of Cointelegraph. This podcast (and any related content) is for entertainment purposes only and does not constitute financial advice, nor should it be taken as such. Everyone must do their own research and make their own decisions. The podcast’s participants may or may not own any of the assets mentioned.