Chinese Media Hail Bitcoin as ‘Digital Gold’

Asia Blockchain Review
July 17, 2019

The world’s first and largest digital currency, Bitcoin, is seeing rising popularity in China, in part due to trade tensions between the US and China. According to a study by Xinhua News Agency, investors all over the world are increasingly relying on Bitcoin as a safe haven alternative.

Digital Assets on Parity with Gold 

Influencers such as Travis Kling of Ikigai Asset Management and Max Keiser of Keiser Report have been advocating the use of Bitcoin, going so far as to call it “a hedge against irresponsible monetary policies” from central banks around the world. 

Max Keiser recently tweeted his predictions on the Bitcoin price, saying it will reach US$100,000 ”‘no sweat” and that “BTC will continue to gain market share until reaching market-parity with gold.”

A recent report by the Financial Times shows that the performance of Bitcoin in 2019 is on par with the three ‘classic haven assets’ of gold, the Swiss franc, and the Japanese yen. 

“Bitcoin is digital gold — it’s a genuine alternative to traditional safe havens,” said David Mercer, CEO of cryptocurrency trading platform LMAX.

Bitcoin Price Index Added to Chinese Finance News App

One of the leading financial news agencies in China, Sina Finance, has updated its price index app to support virtual currencies such as Bitcoin, XRP, Ethereum, and several others. The app also offers news articles on the crypto industry. 

Despite initial coin offerings (ICOs) being banned in the country, the popularity of cryptocurrencies is on the rise, according to the trending search topics on Baidu.


About Asia Blockchain Review

Asia Blockchain Review is the largest initiative for media and community building in Asia for blockchain technology. It aims to connect all blockchain enthusiasts on a regional scale and facilitate the technological foundation of blockchain through a range of group discussions, technical workshops, conferences, and consulting programs.

Our goal is to cultivate and encourage a collaborative community for our members to gather, share their experiences and endeavors in the blockchain space, and brainstorm the potential uses of blockchain technology.

Follow Asia Blockchain Review on:

    Related Article
    Marified Is Taking Maritime To New Heights
    We got a chance to talk to Marat Zalalov, CEO & Co-Founder, Marified on his take on things. This is ...

    May 20, 2020

    Oracle Malaysia’s MD Gives Us An Overview
    Asia Blockchain Review had the privilege to catch up with Fitri Abdullah, Managing Director of Oracl...

    May 19, 2020

    Hyperlocal E-commerce Vietnamese Platform Lozi: An Interview
    ABR spoke to Trung Hoang Nguyen, CEO of a C2C Ecommerce Platform - Lozi, to find out the secret that...

    May 12, 2020

    The Trust Of Blockchain In Regulations
    ABR recently spoke to Ong Wei Shen, a regulatory and compliance officer for Aspirasi, on the topic o...

    May 8, 2020

    We provide information about Asia Blockchain Review latest activities as well as global blockchain news and research. Subscribe to our Newsletter now or Contact us