Chinese State Media Surprises With Forecast of Bitcoin Outshining Gold
Chinese state-operated media outlets keep adding cryptocurrencies — specifically bitcoin — on their reporting agenda. Lately, they have been replicating bitcoin predictions that are surprising in some way to the crypto community due to the number of mentions on the matter since several months. China’s CCTV: Bitcoin’s Bull Market Could Outshine Gold This time, CCTV, one of the biggest state-run broadcasters in China, broadcast predictions on BTC, which pointed out the fact that the bull market may cause long-term downward pressure on gold, as the crypto hype could....
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Two Chinese state-run media outlets have published a brief news item urging citizens to focus more on blockchain technology than on the “hype” of the recent surging Bitcoin prices across the board. China’s Government to Focus on Blockchain Both Sina and Xinhuanet have stated that the recent rally in BTC prices has no clear explanation. Instead, the reporters behind the article, Mao Zhenhua and Zhang Xiaohui, said people should focus on pro-blockchain state policies. Within the brief piece, the state-run press agency ensures that people are “gradually seeing the....
Last week, Cointelegraph reported that the Indian government had planned to ban the importation of gold and impose heavy taxes on gold investors. On Dec. 1, China also restricted the importation of gold in order to prevent capital leaving the country. Over the past few months, the Chinese central bank and government have imposed heavy financial regulations for capital controls, cracking down on Wealth Management Products (WMPs), foreign investment and the transfer of money. The latest strategy implemented to prevent the devaluation of yuan is the restriction of the importation of gold. The....
Reporter Colin Wu shared news published by Chinese state media PengPai related to Bitcoin mining activities by the national government. At the very least, China’s view of cryptocurrencies is ambiguous, but according to the report they have been dabbing with BTC. The state media confirmed a rumor on the Beijing government’s collection data center being […]
Bitcoin is outshining the precious metal by a significant margin as expectations soar of a swift global economic recovery enabled by promising coronavirus vaccines.
In one of its first steps towards creating an unconstrained economy, the State of Texas has decided to setup its own gold-backed bank. The decision comes in the wake of Governor Greg Abbott's decision to repatriate $1 billion worth of state's gold from an underground vault in New York. The republican plans to store this gold in a 'yet-to-be-built' facility, a step that will circumscribe taxpayers' money from leaving Texas and will further circumvent the controversial Federal Reserve System. This means thats the Texans will be able to conduct gold-backed transactions to pay for goods and....