Bitcoin [BTC] gained popularity in China because it offered ‘a quick profit’, says Joyce Yang

2019-4-22 01:30

Since the inception of cryptocurrencies, Bitcoin [BTC] has majorly dominated the digital asset industry and at press time, accounted for more than 50 percent of the total market capitalization.

Joyce Yang, the Founder of Global Coin Research, recently spoke about the impact of Bitcoin [BTC] in China and how it had attracted the native population.

On the latest edition of “Off the Chain” podcast with Anthony Pompliano, Yang mentioned that Bitcoin [BTC] had attracted the attention of the mass public because of its speculative trait and the allure of making a quick profit in the market.

She further explained that Bitcoin [BTC] provided a solution to avoid Capital Control in the market and enabled the population to transfer funds across the globe without governance complications.

She said that one of the major reasons behind the increased popularity of Bitcoin [BTC] in China was the fact that Chinese individuals did not trust their government. The populace also doubted their fiat currency Yuan and questioned its authority to stay relevant in a global market.

Joyce claimed that a lot of the young Chinese nationals growing up in China witnessed significant volatility, illegal vending activities, and unreported financial incidents, which led to an internal crisis. Hence, the people wanted to take their money out and peg it against the US dollar or put it on a stable currency.

Additionally, she said that since 85 percent of the Chinese population were used to digital transactions via AliPay or WeChat, the incentive of using Bitcoin [BTC] as a transaction medium was very low. However, China suffered quite a bit from income inequality which was partially a reason for Bitcoin’s raised interest as it offered the population to make a short-term capital profit.

The post Bitcoin [BTC] gained popularity in China because it offered ‘a quick profit’, says Joyce Yang appeared first on AMBCrypto.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 69638.52 (+1.30%)
Объем 24H $41.586b
Изменеия 24h: 1.97 %, 7d: -2.98 %
Cегодня L: $66916.68 - H: $69638.52
Капитализация $1377.315b Rank 1
Цена в час новости $ 5270.23 (1221.36%)

bitcoin btc joyce yang china offered quick

bitcoin btc → Результатов: 126


Bitcoin Price Fall Increases Buying Momentum, Pushes Exchange BTC Balances To 6-Year Lows

Following a major price decline in Bitcoin (BTC), market sentiment dropped back to strong levels of fear, indicating that investors are becoming increasingly cautious and risk-averse. Despite this trend, on-chain data analytics provider CryptoQuant has revealed a significant increase in BTC buying momentum, resulting in the Bitcoin balances on various exchanges dropping to six-year lows.

2024-10-6 07:00


Фото:

This Country Quietly Mined Over 13,000 BTC, Overtaking El Salvador’s Bitcoin Reserves

In a surprising development, Bhutan has significantly increased its Bitcoin holdings, surpassing El Salvador and establishing itself as a major player in the cryptocurrency world. According to data shared by crypto analytics firm Arkham Intelligence on Monday, the Himalayan kingdom now holds just over 13,000 BTC, valued at approximately $780 million. In addition to Bitcoin, […]

2024-9-18 22:55