Hold on to your wallets, folks! A crazy claim is making the rounds on platforms like X and Telegram that China is about to launch a “Chinese Bitcoin” that is supposedly 10X cheaper and 10X faster than Bitcoin! The crypto world is buzzing-some are thrilled, others confused, but no one is sure whether this is real or just another wild internet rumor.
Well, brace yourselves, because Coinpedia is here to bust this crypto myth wide open. Let’s check if we’re dealing with a real development or just another social media joke.
Who’s Behind This Outrageous Claim?
Enter the crypto scene’s version of a tabloid headline: the claim comes from Chinese crypto whale Wei Zhao. He dropped the bombshell that China’s launching a “Chinese Bitcoin” that’s 10 times cheaper and faster than Bitcoin. Sounds juicy, right? But wait! There’s one teensy-weensy problem-no official Chinese government sources have confirmed any such thing.
Is Wei Zhao just trying to sell us some snake oil? Let’s see.
Coinpedia’s Key Findings: The Real Deal (Or Not)
Official Announcement? Nope.
We’re still waiting for a press release from the People’s Bank of China. No official announcement, no government endorsement. Just some chatter from influencers who love to stir the pot.
China Hates Bitcoin, Loves Control
Here’s the kicker: China has had a strict ban on all cryptocurrencies for years. Trading, mining, exchanges-you name it, it’s banned. Instead of supporting decentralized crypto like Bitcoin, China’s been busy creating its own digital yuan (e-CNY), which is government-controlled. No wild-west Bitcoin here, folks. No room for a crypto that the government can’t track or control!
China Is Developing a Digital Currency, But It’s Not Bitcoin
Here’s the bottom line: China’s all-in on the digital yuan (e-CNY). This isn’t a decentralized, blockchain-powered Bitcoin alternative. No, no. This is a central bank-backed digital currency that puts the power squarely in the hands of the government. In other words: not a chance they’re launching a Bitcoin competitor that’s out of their control.
Coinpedia’s Evidence Against the Theory
| Claim Made by Theory | Coinpedia’s Counter-Evidence |
| Is China launching a Chinese Bitcoin? | No official announcement from a government body |
| Does China support any digital assets? | Yes, the digital yuan, which operates as a centralized legal tender, not a Bitcoin alternative. |
| China is supporting decentralized crypto? | Nope! Because they’ve banned Bitcoin, the decentralized crypto. |
Conclusion: A 10X Falsehood
| Claim | Is China launching a “Chinese Bitcoin” that’s 10X cheaper and faster than Bitcoin? |
| Verdict | False |
| Fact-Check by Coinpedia | After reviewing Chinese government policies and official announcements, there’s absolutely no evidence supporting the claim that China is launching a decentralized Bitcoin competitor. Until the Chinese authorities confirm it with a press release, we can safely say this claim is a big, fat lie. |
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2026-02-26 14:06