Published on August 18th, 2015 | by bitcoin0
Chinese Believe Bitcoin to be a Safe Haven
Is the devaluation of the Chinese yuan triggering a surge of bitcoin growth in China?
Some businesses purchase bitcoin due to its relatively high international exchange rates and to avoid times of economic uncertainty.
“However, there are a growing number of people who feel that bitcoin is a safe haven of sorts, analogous to the role that gold played historically.
“Chinese are highly skeptical of anything that could be perceived as a scam,” Wolfson told Bitcoin Magazine.
Given the amount of mining and exchange that occurs in China, bitcoin is arguably more mainstream in China than anywhere else in the world.”
Photo Christopher / Flickr (CC)