01 Jul '13, 9am

Chinese investors go crazy for #Bitcoin

Chinese investors go crazy for #Bitcoin

An Avalon Bitcoin mining machine. (Internet photo) A BTC craze is sweeping China, as hundreds start to invest and trade large amounts of the virtual currency Bitcoin. The craze has given birth to a huge industrial chain, covering trading, mining, chip production and mining-machine assembly. Tencent, China's largest internet company by value, said that the currend demand for Bitcoin can be regarded as a type of futures investment involving the growth forecast of BTC's value and mutual bets on credit standing between upstream and downstream players. The major risk for the BTC investments lies in whether the currency can be embraced by even more people and become a standard online currency. While the company added that the new currency's lucrative outlook is attracting the participation of a growing number of savvy investors. Yang Yaojun, former founder of a university campus...

Full article: http://www.wantchinatimes.com/news-subclass-cnt.aspx?id=2...

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