Buying foreign currency as an appreciating asset is generally a terrible idea. Holding it physically is an even worse idea, so if you’re going to own imaginary things, you might as well make it an asset that also directly contributes to the Chinese century.

Consider holding MCHI or FLCH in a tax advantaged account instead. They are highly diversified index-based funds, you “own” (not really but too long of a story) all of China. Your money goes directly to growing China and they are both mainland China-specific, no T * iwan or J * pan stocks, or any other country.

Of course there is the small risk the US bans investment into China (or starts a war) and confiscates all assets but there’s no way to directly invest in China as a foreigner and if the US goes that far, the dollar is becoming worthless anyway.