Bitcoin has become the new darling of mainland punters amid a slumbering stock market, heightened expectations of the yuan’s devaluation and even the advantages the payment system offers in dodging Beijing’s anti-corruption drive.
The cryptocurrency has surged nearly 30 per cent in the past two weeks, hitting US$584 on Monday, according to the Bitstamp exchange.
Trading volume on BTC China has jumped three to five times recently, with the majority of trading worldwide conducted via Chinese exchanges.
http://www.scmp.com/news/china/economy/article/1968733/why-bitcoin-has-become-chinas-new-darling
