Despite trading ban, Chinese media surprisingly supportive of Bitcoin

04 Jul, 2019
by David Borman
Adoption
Despite trading ban, Chinese media surprisingly supportive of Bitcoin

It is being reported by Bitcoinist that recently the Chinese media has been taking a rather inclusive stance towards Bitcoin as well as other cryptocurrencies. This comes despite a general ban in the country on trading crypto and all ICO's.

One form of love comes from the government-run Xinhua News Agency, which recently published a report revealing the growing love of Bitcoin as a hedge investment. The study cited tensions between the US and China, as well as shifting monetary policies from central banks, as factors putting pressure on the markets, which is frightening investors. It seems some are turning to crypto in the same way many traditionally have used gold.

Another optimistic announcement comes from leading financial publication Sina Finance, which has just added multiple cryptocurrency price indices to its official app:

The app not only gives the current prices, but also supports candlestick charts and the latest news. Being included in a financial product of such prominence should add a bit of credibility to the crypto space.

Will we continue to see crypto love from the Chinese media? Stick with Chepicap for all updates!

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Read more about: Bitcoin (BTC) China

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