Is China Buying Bitcoin? (It May Not Be What You Think…)
Behind the Scenes: How Chinese Investors Continue to Embrace Bitcoin Despite Official Stance
On April 30, I attended the launch of Bitcoin and Ethereum ETFs in Hong Kong. The event took place at the Hong Kong Stock Exchange and was attended by hundreds of people, including asset managers, bankers, government officials, funds, and members of the crypto community.
What struck me was that although Cantonese is the language spoken in Hong Kong, 99% of the people there spoke Mandarin, the language of mainland China. In fact, I’m almost certain I didn’t hear any Cantonese, and I heard almost no English, except from myself and a few western journalists.
If Bitcoin and crypto are banned in China, how come Chinese financial institutions and communities are dealing with Bitcoin? And how do they lead the Bitcoin ETFs?
China Never Really Banned Crypto
Despite the widespread reports that crypto is banned in China, I see a different reality. Crypto trading, ownership, mining, and investing are very much alive…
