I’m not a PP fam by any stretch, but blockchain technology, like it or not, will figure prominently in many aspects of future life, not just currency but logistics/supply-chain, etc.
As well, only ‘Proof of Work’ crypto has a high power demand due to the mining aspects. ‘Proof of Stake’ cryptocurrency is not ‘mined’, and has significantly lower power demands for management, similar to standard IT-based financial systems.
China is not investing in (Western-based) crypto, because it doesn’t like the non-centralized, distributed control of the blockchain. It wants complete centralized control of any cryptocurrency it uses, hence why it against Bitcoin, and for the digital Yuan.