China is on a massive bitcoin buying spree, with the US and Brazil coming in a distant second and third. Fiatleak has a live map. Bitcoin is currently trading at $902. Last year at this time it was trading at $424.
Experts said the rise in value was linked to the long-term depreciation of the Chinese Yuan.
The Chinese currency has dropped about 7% in value during 2016, said Reuters. The majority of Bitcoin currency trading takes place in China as it allows people to skirt restrictive local laws that limit how much money Chinese people can swap.
Stock investors who are reeling after today’s disaster on Wall Street can take comfort in the fact that people hodling Bitcoin fared even worse. The price of a bitcoin dropped from $7900 to $4900 in less than a day. From Coindesk Nearly $63 billion has been wiped from the markets as the total market capitalization […]
“CoronaCoin” exists. Some cryptocurrency developers on 4Chan cooked up a digital coin that allows traders to bet on the global coronavirus outbreak, based on how many people become infected and/or die.
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First, they were all about serving a protective necessary function. But now, about 10 weeks after the explosion of the COVID-19 outbreak, face masks are beginning to serve a different role. Just like all the fashion accessories that came before them, face masks are now showing off a little piece of ourselves to the everyday […]