Chinese folks did it as a way to avoid CCP capital controls, they are one of the big reasons bitcoin is as big as it is. This is not new news.

edit: read article, the bigger problem is China trying to end the dollar as the world's reserve currency, which allows us print $ like no tomorrow. Again, not new news. The only new news, is Thiel worries that bitcoin may be used by China to end that reserve currency status, but doesn't say how.

Chinese folks did it as a way to avoid CCP capital controls, they are one of the big reasons bitcoin is as big as it is. This is not new news.