Binance CEO says China has never been bullish on Bitcoin

Rajan Dhall, MSTA FX Daily

It has been well known that the Chinese government are looking to create a nation cryptocurrency. After the news of Libra spread the Chinese also announced they would be looking to invest and promote lots of Blockchain related innovations.

Binance’s CEO, Changpeng Zhao aka CZ has recently had his say on the matter saying:

But when the country, President says, okay, we want to develop blockchain technology, of course, that gets spread out rather news and there’s a lot of hype around it and that causes the Bitcoin price to grow

In actuality did the President say anything about Bitcoin itself or just the technology. He then went on to say:

My understanding would be, they want people to understand that the technology, just like people understand the internet because only after you have a deep understanding of it, can you come up with a very smart way to manage it

He when on to state: it was “refreshing” to see the President of China, Xi Jinping, talk about blockchain technology so publicly. Then CZ claimed that China has been pro-blockchain since 2015, and has never been pro-Bitcoin or pro-cryptocurrency.

Author

Rajan Dhall, MSTA

FX Daily

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

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