• As inflation rises and threatens the stability of the global economy, Chinese investors are counting on Bitcoin as a safer alternative.
• Despite the current crypto ban in China, Chinese residents are relying on over/the-counter services.
China’s economy has, like many others, been facing its fair share of volatility. With the continuous rise in inflation, Chinese residents are looking for a haven and digital currencies like Bitcoin appear to be their preferred alternative.
As many Chinese residents reported, Bitcoin has offered more stability than fiat, as the asset is not only more promising for investors, but it is also not controlled by Chinese authorities. As recently reported by Reuters, the adoption of digital currencies is growing rapidly in China.
Speaking to this effect was Dylan Run, a Shanghai-based finance sector executive, who reckoned that “Bitcoin is a safe haven, like gold.” Despite the Chinese government placing a ban on crypto trading and mining, Run had
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