Central Bank Currency Devaluation Drives Demand For Cryptocurrency
As central banks devalue their currencies in a tit-for-tat race to the bottom, demand for cryptocurrencies, in particular, Bitcoin as a macro hedge has risen.
Vicky Lee (not her real name) uses a cotton puff to dab a few more strokes of powdered sunscreen to her already flawless complexion. With skin like alabaster, Lee, who easily looks half-a-decade younger than her already youthful 25, is careful to avoid sun damage on her skin.
Despite the 90-degree heat and 80% humidity, Lee is decked out in a long-sleeved top (with UV protection no less), sunglasses and a wide-brimmed hat that would look more appropriate on a beach, than navigating the sea of humanity that is Luohu Commercial City — a bustling hive of shops selling any and all manner of counterfeit products.
But Lee is not at Luohu to source the latest “it” bag knockoff, nor is she there to score a fake luxury watch, it’s what’s hidden behind one of the many indistinguishable stores that she’s after.
