On October 7th, despite the cost of converting the stablecoin USDT to stocks being about 3-5%, the potential for a 50-70% rise in Chinese stocks makes this strategy appealing. Observers noted that since the end of September, while the Chinese stock market has surged 20% under stimulus policies, Bitcoin has remained relatively stable. The Rebound in the Chinese stock market may be attracting capital outflows from the cryptocurrency and Asian stock markets.

The co-founder of the digital asset association in Singapore, Danny Chong, said that even with a 3-5% conversion cost, it is expected that there will still be a potential pump of 50-70%, which is a strategic choice for savvy investors. Funds from other Asian stock markets may also flow into Chinese stocks. Since September 24th, the Shanghai Composite Index has pumped by more than 20%, reaching its highest point since May 2023, while the Hang Seng China Enterprises Index has pumped by over 25%.