With more recent news about China and a potentially unfriendly stance toward Bitcoin, some people are again concerned about China and it’s affect on Bitcoin’s long term viability.

A couple stats:

Market cap of China stock market: $3.8 trillion.

Market cap of US stock market: $18 trillion.

(Source: http://www.quandl.com/economics/stock-market-capitalization-by-country)

The US has been moving industries, technologies and markets longer and can move Bitcoin mainstream faster and bigger.

If China accepts Bitcoin, and I suspect they will, then it’s a nice bonus. But even if they completely banned it, Bitcoin can still be driven to absolutely stunning levels by Wall St. alone, not to mention EU and many emerging markets.

(Yes, I’m aware Bitcoin is not a stock. Comparison to market cap of known things like stocks or metals is relevant just the same because it reflects market size and participation by people and institutions.)

Let’s also remember that prior to 20 years or so ago, many new technologies, industries and ideas were released with little consideration and participation from China. Even today, technologies or companies like Facebook have managed to build large acceptance, value and market share without China.

TL/DR: If you happen to be Bobby Lee then you should pay a lot of attention to what’s going on in China. For everyone else, especially long term holders, it is not necessarily relevant.