The Shanghai-based central bank also warned against conflating the country's interest in blockchain with bitcoin and crypto...
The bitcoin and cryptocurrency industry has been rocked by reports of Chinese police raids on the offices of major bitcoin and crypto exchanges Binance and Bithumb in the country over the last week -- though both have denied the raids took place.
But now that same Forbes columnist asks: Is this when to buy bitcoin? Among other reasons... As well as the May bitcoin halving, which will see the number of bitcoin rewarded to miners cut by half from 12.5 bitcoin to 6.25 bitcoin, bitcoin investors are hopeful next year will bring an increase in the number of bitcoin retail investors and people using bitcoin and cryptocurrencies for payments. Bakkt, a New York Stock Exchange-owner backed bitcoin and cryptocurrency venture, announced last month it plans to launch a consumer app for cryptocurrency purchases in 2020. U.S. coffee chain Starbucks will be its first launch partner, with the company one of the original backers of the crypto project, along with software giant Microsoft and Boston Consulting Group. Meanwhile, Bakkt's bitcoin futures daily volume hit a new all-time high this week, according to data from Intercontinental Exchange, with some $20.3 million across 2,700 futures contracts on Friday.
Many in the traditional financial industry remain unconvinced by bitcoin and crypto, however. This month, former European Central Bank president Jean-Claude Trichet slammed bitcoin and Facebook's crypto project, warning bitcoin is "not real" and not the future of money.