Baidu and China Telecom Stop Accepting Bitcoin, Price Slumps Again

Baidu and China Telecom Stop Accepting Bitcoin, Price Slumps Again

The bitcoin price has continued to drop overnight on major bitcoin exchanges. The price on exchanges included in the Bitcoin Price Index all currently sit below $700, with the BPI overall having dropped almost 20% to $670 since close of play last night, and BTC China's price seeing a low of ¥4,003 ($658) this morning. The price slump follows the statement from the People's Bank of China and the news that divisions of Baidu and China Telecom, two of the best known names in Chinese internet and telecommunications, removed references to bitcoin payments from their sites. Analysis of the....


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Chinese internet giant Baidu starts accepting bitcoin

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Quotes

The Federal Reserve system hates it! They would love to kill it. They’re attacking it any way they can, but they will fail. This is what we’ve been waiting for! This is the Cyber Christ moment. This is when the activists that having been pushing against the Fed are gonna win with Bitcoin.

Max Keiser, Investor and Journalist