RATE Group | China’s President Xi ‘Credentialized’ Cryptocurrency, Says Novogratz
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China’s President Xi ‘Credentialized’ Cryptocurrency, Says Novogratz

06 Nov China’s President Xi ‘Credentialized’ Cryptocurrency, Says Novogratz

Posted at 15:26h in Cryptocurrency News by

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China’s President Xi Jinping gave credibility to blockchain and crypto by calling the country to accelerate blockchain adoption, said Galaxy Digital CEO Mike Novogratz. The cryptocurrency investor delivered his remarks speaking at the Reuters Global Investment Outlook 2020 Summit in New York on Nov. 5.

Xi “just credentialized crypto and blockchain”

Michael Novogratz, founder at crypto investment bank Galaxy Digital and a major Bitcoin (BTC) bull, believes that the Chinese president’s announcement in late October triggered the recent surge in Bitcoin’s price. 

By urging China to embrace blockchain technology for the sake of the country, Xi “just credentialized crypto and blockchain,” Novogratz stated.

On Oct. 24, Xi expressed his positive stance on blockchain technology at the Politburo Committee session on blockchain technology trends. The president emphasized that the adoption of integrated blockchain technologies is key to promoting tech innovation and industry…

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