First of all, I don’t want to keep a large amount of assets in the form of RMB in the bank.
On one hand, I expect the RMB exchange rate to decline. If U.S. tariffs increase further, the RMB exchange rate could fluctuate significantly. Even without policy factors, in the long run, the value of RMB is inferior to the dollar.
On the other hand, money stored in the bank isn’t really your own; it’s the state’s. Moreover, if your account gets frozen due to “suspicious activity,” it would be very troublesome to deal with, and you’d have money you can’t use. So, keeping money in the bank is not a safe option.
Aside from RMB, the choices are limited to gold, stocks, and cryptocurrencies.
As for gold, dare to buy physical gold in China? From what I remember, even bank-held gold (that you can’t physically take out) has had rusting issues, so I’m not familiar with it and afraid of buying fakes — not very reliable. Especially given the “simple folk” reputation domestically — I know it too well.
As for stocks, forget about domestic ones. As for foreign stocks, I don’t have an account to buy them and don’t know how.
That leaves cryptocurrencies. Among cryptocurrencies, there are only two real options: BTC and USDC.
When it comes to stablecoins, between USDT and USDC, USDC is more reliable.
Among cryptocurrencies, forget about altcoins. ETH can be played with a little, but anything more “alt” than ETH — don’t even think about heavy investment.
So comparing BTC and USDC:
BTC’s advantage is that it is a pure decentralized coin — not issued by any company, not controlled, and won’t suddenly disappear. The downside is the huge price volatility.
USDC’s advantage is that it’s a stablecoin — its value is stable and won’t drop. The downside is, for example, if it’s issued on the Ethereum chain, what happens if Ethereum goes down?
Therefore, I allocate my assets selectively between BTC and USDC.