Bitcoin versus Beijing, Who Wins the Battle in the End? | Brian Tycangco

The fall of Evergrande contributed to China's crackdown on cryptocurrencies, says Brian Tycangco, Senior Editor of True Wealth Opportunities: China.

Tycangco says another reason for the ban is, "to not encourage the mining activities of Bitcoin," as China is going through one of its worst energy crisis in the last twenty years. We are seeing increased purchasing of gold in China, he continues.

Beijing is focused on getting the economy back on track, Tycangco says, with cryptocurrencies being the last thing on the Beijing government's mind.

#china #cryptocurrency #evergrande #gold

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