Is Bitcoin used for Bypassing Capital Controls in China? (Part 1)
Bobby Lee
213

The Chinese own a maximum of 5 million Bitcoin.

If they used every single one of those for the purpose of capital flight that is a total of $5 billion.

Net capital outflows from China ran at $60 billion a MONTH in 2016. That’s $725 billion in 2016.

http://www.nasdaq.com/article/update-1china-net-2016-outflows-at-record-725-bln--iif-20170202-00768

Gross capital outflows were at least double that : $1.5 trillion.

The maximum conceivable Bitcoin capital outflow is a tiny pimple on a Little Emperor’s baby face.

It is indeed a fake story!

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