China Accumulating Gold Is Bitcoin Next?

It has been reported that as the trade war between China and the U.S. escalates China has started stockpiling safe-haven assets to manage their risk.

China's safe-haven asset of choice appears to be gold for the central bank but many believe that Bitcoin as a better option for the people.

It was revealed that the Asian giant stockpiled 100 tons of gold bullion adding to the accumulation it began in December.

Data from the People’s Bank of China shows that the central bank has increased its bullion holdings to 62.45 million ounces in August from 62.26 million in July.

This month alone showed an increase of 6 tons of gold in China’s reserves which are now around 100 tons accumulated over the past eight months.

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