Crypto OG Michael's interview at the BTC conference in Las Vegas, sharing his views on China's regulations and the prospects of the crypto industry in Hong Kong.

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During Bitcoin 2026, Uncle Silicon Valley interviewed crypto OG Michael, discussing the Chinese ban, the prospects of Web3 in Hong Kong, the underground demand for stablecoins, and the entry of Wall Street. Michael believes that the BTC trend is irreversible and that the US is gaining pricing power; while he is bullish in the long term, he still sees risks of a short-term correction. (Editor's Note: Analyst: Bitcoin doesn't need a new narrative to return to $100,000! Price increases will naturally create bullish sentiment; it is currently an "excellent zone to buy the dip.") (Background: Tether announces the creation of a "Bitcoin Berkshire": its subsidiary 21 Capital announces the merger of Strike and mining firm Elektron, with XXI rising 8% intraday.) Michael, founder of the blockchain media outlet and YouTube channel "幣鏈何在 – 讀懂區塊鏈" (@BTC_CN), is a crypto OG and a long-term BTC evangelist. At the Bitcoin 2026 conference in Las Vegas, Uncle Silicon Valley interviewed Michael, touching on issues of concern to many, such as China-related policies and the future market trend of BTC. Michael shared his experience of leaving China, his views on Hong Kong regulations, the comparison between China and the US, and industry trends. The full interview is as follows. Uncle Silicon Valley KC: Hello Michael, we know you are a veteran in the crypto space, starting out as a miner and in related businesses, right? Over the past decade, due to national policies and geopolitical factors, a large number of miners have moved from China to the US and other regions. What is your outlook on the future development of the mining industry? Michael: Yes, ever since China started driving out miners, you knew the last light had gone out. Coupled with the three-year pandemic lockdown, you felt there was no hope at that time. So I sold all my assets in China and left Beijing with two suitcases—one big and one small. At forty-something, my life turned into two suitcases; leaving my motherland with everything I owned in them was quite emotional and sad, but I also felt that life could actually change. If you look at it from another perspective, it’s a rebirth. Wherever my ideals and assets are respected, that is where I will be, so I became a pure world citizen. Uncle Silicon Valley KC: I want to ask a sharper question: Did China ban BTC and the crypto industry because of capital control issues, failing to comply with domestic policies? Michael: That’s one aspect. Because capital has always been controlled in China. The Chinese government doesn't like things it cannot control; it wants to manage everything and keep everything under its nose. So, you talk about a decentralized world—I don't grow in your soil, and since I can't change you and I can't strike you down, I have to kill you. But on the contrary, you can't kill it. The more you want to kill it, the more you shout and threaten, the higher the coin price rises. In the past, it might have dropped a bit after the shouting, but now it doesn't even drop; it just ignores you. So, a special topic I recently did is called "The Crypto World is Not Small, China is Not Big." You are already insignificant. You were once very powerful, holding 70% of the BTC hashrate and could command the world, but you broke it yourself. You handed over your most precious thing to others, and now you are shouting and threatening again. I don't think you can reason with a hooligan or talk logic to someone who doesn't understand technology. But you are just a leek, a commoner, and you can't change anything, you can only change yourself. I accept it; if the world is like this, I accept it and go find a place that accepts me. Uncle Silicon Valley KC: But BTC and digital assets are an irreversible major trend. After all, China is a large economy. Will it find a "Chinese-style" blockchain industry? Or is this decentralized gene inherently incompatible, making it impossible to develop under such a system? Michael: It’s like a needle against a wheat awn. It knows "if you live, I must die"; they cannot coexist. To say you want to find something "not so decentralized, and not so centralized" in a decentralized world is impossible; there is no middle state. I think what the US is experiencing might be a middle state, a process of shifting from decentralization to centralization. Just like AI now; AI has just started to reach a critical point, and its scale is still very small, so it might have to play dumb for now, saying "you humans are smart, I will follow your orders

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