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Crypto in China

Peter Thiel On Bitcoin and Threats from China

Peter Thiel – a libertarian and the co-founder of PayPal, arguably the largest digital payment platform in the world – has taken some serious guff over the past week thanks to some comments he made about bitcoin and China. Thiel Doesn’t Want China to Use BTC Against America In a recent interview, Thiel commented that the Chinese could potentially weaponize bitcoin and use it against its enemies like the United States. He recommended harder regulation be put in place so...

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Report: Bitcoin Mining May Require More Electricity Than Three Quarters of the World’s Nations

A new report suggests that bitcoin mining operations are likely to exceed the energy requirements of more than 180 countries by the year 2024. Bitcoin Mining Is Needing Too Much Electricity As of late, bitcoin mining has been taking a lot of guff from environmentalists and people who just are not that crazy about the cryptocurrency world. They claim the process of mining bitcoin leaves a harmful mark on the environment – one that is not likely to disappear anytime soon,...

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Shark Tank Kevin O’Leary Will Only Buy Bitcoin Mined with Clean Energy

The popular investor Kevin O’Leary stated he will only buy bitcoin mined sustainably in countries around the globe using clean energy. He distanced himself from the so-called ”blood” coins mined in China, saying he will never purchase such. Bitcoin Mined in China Is a ”Blood” Coin The controversy around the environmental damage that bitcoin mining causes goes on. The chairman of O’Shares – Kevin O’Leary, is the next one to touch on the topic. During a recent CNBC interview,...

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Bitcoin Is Helping the Digital Yuan Move Forward

As interest in bitcoin has grown over the past few months, so has interest in China’s digital yuan. The Digital Yuan Is Making Headway Bitcoin has been booming over the past six months, with the world’s number one digital currency shooting up from $10,000 in early October to about $59,000 at press time. That is an increase of almost five times the original price. However, the interest in BTC is also stirring interest in other forms of crypto such as the digital yuan....

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High Bitcoin Price Increases the Demand for China’s CBDC, PBoC Said

When it comes down to developing a central bank digital currency (CBDC), perhaps no country is more advanced than China. Upon carrying out several tests in recent months, the People’s Bank of China said that the interest in the innovative initiative is surging, but bitcoin could also have a vital role in that. BTC Behind the Surging CBDC Demand? Although some reports claim that four of every five central banks are currently working on launching their own CBDC, China has been...

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Soros Fund Management Has Invested in Cryptocurrency Infrastructure, Said CIO

Bitcoin is at its “inflection point” caused by the current global economic situation, said Dawn Fitzpatrick – the Chief Investment Officer of Soros Fund Management.However, she also warned that the upcoming launch of CBDCs could harm the first-ever cryptocurrency in the short-term.BTC’s Inflection PointFounded in 1969 by Georgi Soros, Soros Fund Management is a privately owned hedge fund sponsor investing in public equity and fixed income markets. The organization’s CIO recently spoke about...

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Bank of America Condemns Bitcoin for Its Alleged Energy Use

There is a long-lasting argument in the world of crypto that bitcoin is somehow negative for our environment. That it utilizes too much electricity, and as a result, our atmosphere is likely to take a real kick in the rear at some point in the future. Now, that argument is being pushed further, as data from Bank of America suggests the mining sector utilizes more energy than American Airlines, a company that flies more than 200 million people across the country each...

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China’s Social Media App Weibo Reportedly Bans the Accounts of Binance, OKEx, and Huobi

While some Chinese companies have purchased BTC and ETH, others, such as the social media giant Weibo, have reportedly halted the accounts of three of the largest crypto exchanges – Binance, Huobi, and OKEx. Weibo has justified its decision by outlining “abnormal practices” and breaching security risks.Weibo Targets Crypto ExchangesIt may not come as a surprise that a Chinese-based company has a somewhat hostile approach towards the cryptocurrency industry, keeping in mind the country’s...

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Hong Kong-listed Meitu Bought $40M Worth of Bitcoin and Ethereum

Chinese tech company Meitu has announced a massive purchase of 380 BTC and 15,000 ETH, representing an entry of about 40M USD, as of writing these lines, into the cryptocurrency market.This came just one month after tech mogul Elon Musk, the founder of Tesla, announced that the company would be purchasing 1.5B USD worth of Bitcoin.Although a large Hong Kong-listed firm publicly buying Bitcoin is undoubtedly noteworthy in and of itself, it’s interesting to note Meitu founder Cai Wensheng’s...

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Citibank Praises BTC, While China Seeks to Limit Mining Activity

From both ends of the world, bitcoin is the target of much speculation. In the west, it appears to be the subject of positivity, with the likes of Citibank commenting that bitcoin is likely to be at the center of much cultural and revolutionary change. In the east, countries like China are looking to implement serious limits on bitcoin and crypto mining. With both sides offering opposing views, it looks like bitcoin has used this time to heal some of its wounds and...

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