08 Dec China reaffirms anti-cryptocurrency stance
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A few weeks ago, many members of the cryptocurrency community were praising China’s President Xi Jinping for endorsing blockchain technology.
The president’s pledge to accelerate blockchain development in China unwittingly sent the price of BTC skyrocketing by a massive 42% in just a few hours.
It also caused stocks in Chinese blockchain A-share firms to max out at their 10% limit the following Monday.
However, in the wake of the frenzy the president unleashed, he’s now firmly setting the record straight.
Since his endorsement of blockchain, Xi Jinping has been very vocal in his efforts to remind the world that he’s not a fan of cryptocurrencies. Neither is he the “Crypto Dad” that many Bitcoin supporters and social media users were labelling him.
$BTC has moved +42% today
– 4th largest gain in history and largest since May/10/2011 (if comparing against daily returns).
– 15th largest two-day gain in history, Nov/18/2013.
Thank you China.
President Xi is the true Crypto…
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