Bitcoin’s Gains Not Fuelled By Chinese Capital Flight Only: Circle CEO

According to Jeremy Allaire, the price increases in Bitcoin since the beginning of the year were driven by more than just Chinese investors seeking to avoid capital controls. The Circle CEO claims that a belief in this narrative from investors outside of China is likely to behind the rise too.

Allaire also believes that although cryptocurrency is on the agenda at the forthcoming G7 summit, we will not hear specific policies from the group just yet. However, he does expect to learn more about the nature of the group’s interest in crypto assets in the coming weeks.

Allaire: Bitcoin is Non-Sovereign, Of Course it Appeals to Those Wanting Ultimate Control of Their Own Capital

Speaking with CNBC earlier today, Circle CEO, Jeremy Allaire, said that he did not find it at all surprising that people were starting to see Bitcoin as a way of preserving wealth outside of a threatened economy. Arguing that its core value proposition hadn’t changed in around eight years, Allaire said:

“Clearly…