China was Suspected of Wanting to Ban Bitcoin Completely
OREANDA-NEWS. One of the first crypto billionaires in China and the founder of the BTC China crypto exchange, Bobby Lee, suspected the Chinese authorities of wanting to completely ban the storage of bitcoin and other digital currencies. He told about this in an interview with Bloomberg.
“The last straw would be something like a complete ban on cryptocurrencies. I estimate the chances are 50-50, ”said Lee. He believes that the Chinese authorities have declared war on bitcoin due to their unwillingness to deal with an unregulated financial product. Lee also advised miners to sell their hardware before it dropped dramatically.
However, the entrepreneur is still optimistic about the future of bitcoin. Li believes that the rate of the most popular cryptocurrency this year could rise to $ 250,000, and to $ 1 million by 2025. Bitcoin's success has never depended on China or any other country, the crypto billionaire emphasized.
In mid-July, Bitcoin dropped below $ 30,000. Such dynamics was associated with news from China, which banned large financial institutions in the country from conducting operations with cryptocurrency. However, then bitcoin began to strengthen and approached 40 thousand dollars.