Bank Of China Is Promoting Bitcoin And It Sounds Very Bullish!

[SuperTA]

Bank Of China, one of the China's state owned banks is educating their citizens about bitcoin, explaining how it works, why bitcoin has a value, why the price is going up and it sounds very bullish. Yesterday bank of China published an infographic article. The infographic is explained in three parts. In the first part it explains the history and a white paper, mining, how it works, benefits of using bitcoin.The second part explainst the historical price and volatility. The third part explains bitcoin's adoption! This looks like China is more open for bitcoin. Maybe we are at the begining of something big here.

https://openapi.boc.cn/inews/index.html?from=singlemessage&isappinstalled=0#/authorPageDetail/1000899?channelId=110000&fromShare=1&inComeSource=zyzq-main

[CryptoBry]

Indeed, we could be into something here. I am sure that the Bank of China will not do or promote something like Bitcoin if there is no approval from the top (or from the government itself). Since the government of China is not really known to be very transparent, we could not surmise the many developments or updates taking place in the country as far as cryptocurrency is concerned. This shift of outlook can be borne out of the fact that the government is seeing Bitcoin as one of the many tools it can use to undermine the value of the US Dollar. Will this mean that more and more moneyed Chinese to adopt Bitcoin? I think that is quite a possibility...this is really worth watching as it seems that the Chinese market is now fully waking up (after a good deal of bad news in the past two years).

[Wind_FURY]

OP, it might be a trap, whatever their game is. Why would the bank of China educate the people about Bitcoin? Bitcoin is a takeover, they don't want people in their country using it.

Or is the Bank of China HODLING?

[fiulpro]

The fact that the Chinese government issued several warnings in the past and infact it was even predicted that any holder of Bitcoins will suffer greatly.
But did anything happen ?
No.
Only minning was made illegal and other than that people can still hold bitcoins and can through very limited things trade P2P.
I think this particular thing right now that is happening with the banks should grab the attention of Indian government too so as how they cannot just ban it.
People will still use it.
Am happy that the Chinese government is now taking some interest in Bitcoins.

[mk4]

Very weird to be honest. I used to roll my eyes on those people who said in the past that China has been "banning" bitcoin and releasing negative news just to drop the price of bitcoin so they could buy more, but I'm actually slowly being convinced. China just can't make up their mind.

[pakhitheboss]

Something is very wrong here!

Why is a bank promoting and educating people about Bitcoin?

This is not right, Banks globally are known to be against Bitcoin and other cryptocurrencies. They consider it a threat to their business and suddenly this Bank in China is exactly doing the opposite.

Something is Fishy. They will never promote a product outside their domain. They always love to control and will do anything to control the finance. I am sure they have some kind of hidden agenda.

I will never believe a bank. They are the biggest liars and manipulators.

[squatter]

Very weird to be honest. I used to roll my eyes on those people who said in the past that China has been "banning" bitcoin and releasing negative news just to drop the price of bitcoin so they could buy more, but I'm actually slowly being convinced. China just can't make up their mind.

Weird, indeed. I suppose it's worth noting that this is a commercial bank, not the central bank (People's Bank of China). It reminds me a bit of these sorts of articles from JPMorgan Chase.

For all we know, the Bank Of China has ruffled some feathers in the government by publishing this.

[bitbunnny]

OP, it might be a trap, whatever their game is. Why would the bank of China educate the people about Bitcoin? Bitcoin is a takeover, they don't want people in their country using it.

Or is the Bank of China HODLING?

Maybe they decided to get approach " know your enemy". Or they think people will have different view on Bitcoin once they get educated about it, maybe they think it's their duty to give people proper information.
Anyway, it sounds a bit strange but who knows what is exact background of such behaviour of Bank of China.

[buwaytress]

Good pointed out that this isn't a state bank, but BOC isn't a bank of small water. Think they even had a branch in my tiny state far in the SE.

Usually this type of info happens when there is enough customer interest. Or maybe a pushing shareholder or board member.

But yes, this is actually what I'd call good news=)

[waitforme]

This is good news in the last days of July. This maybe an excellent opportunity for big companies like BitMan to return to China if the prohibition policies related to Bitcoin mining in the country removed. I hope that will pass and that Bitcoin prices will continue to rise.

[Teamfearless]

this is definitely the best way to adopt  bitcoin , i believe  they want people  to understand how bitcoin so that they can adopt it easy.  my question is why bank is educating people about bitcoin ? . Maybe their banking sector want to use bitcoin as an investment  asset or it might be a trap ..  but its a good news for crypto space we are looking forward to see more like this..   

[valentin68]

Bank of China is the No 1 bank in this world. There is no bank as good as Bank of China.
 In the history of humanity the Chinese people has made miracles in commerce. They are very good merchants.

If the Bank of China is promoting Bitcoin, then the Bitcoin future for the next 10 years is very good.  

[Herbert2020]

i thought this was some tiny bank which wasn't even located in China as news such as these usually are! but with some search it seems like it IS a state-owned bank and it is one of the biggest ones. in fact it was the fourth largest bank in the world in terms of assets! and it is located in the heart of China
http://www.boc.cn/en/aboutboc/
https://en.wikipedia.org/wiki/Bank_of_China
and that makes this whole news even stranger

[omrafif]

Bank of China publishes infographic explaining why bitcoin is valuable and how its value keeps increasing

[Haunebu]

Bank of China is the No 1 bank in this world. There is no bank as good as Bank of China.
 In the history of humanity the Chinese people has made miracles in commerce. They are very good merchants.

If the Bank of China is promoting Bitcoin, then the Bitcoin future for the next 10 years is very good. 

Hilarious. Number 1 bank in the world? The Chinese government have always confused investors regarding their stance on crypto on multiple occasions through out time and this is no different.

Anyone with a half decent brain knows that banks and other government related entities hate BTC the most which is why them supporting crypto all of a sudden out of nowhere is silly and does not make any sense.

[abeecrypto]

wow! Having one of the China's biggest state-owned commercial banks putting effort in educating its people about Bitcoin is a big stride in the cryptocurrency front. i have always expected this. This might be a response to the upcoming LIBRA. And i think they would be planning to create their cryptocurrency. China is an innovative country and they wouldn't be left out of great ideas. Now, this will increase the people's confidence in cryptocurrency.

[ityandsyn]

Bank Of China, one of the China's state owned banks is educating their citizens about bitcoin, explaining how it works, why bitcoin has a value, why the price is going up and it sounds very bullish. Yesterday bank of China published an infographic article. The infographic is explained in three parts. In the first part it explains the history and a white paper, mining, how it works, benefits of using bitcoin.The second part explainst the historical price and volatility. The third part explains bitcoin's adoption! This looks like China is more open for bitcoin. Maybe we are at the begining of something big here.

https://openapi.boc.cn/inews/index.html?from=singlemessage&isappinstalled=0#/authorPageDetail/1000899?channelId=110000&fromShare=1&inComeSource=zyzq-main

       Maybe they are now realizing the importance of crypto currency in some business since their neighboring countries like Japan , Indonesia , Thailand , Singapore , and Korea have a concrete regulations of crypto currency so maybe they was influenced .

[bitsurfer2014]

I suppose those press releases that a state owned bank in China is acquainting people about cryptocurrencies particularly with Bitcoin seems to me that it will be a primer to their planned release of their country's own cryptocurrency - (if the rumors are true) within the cryptocommunity. I believe China is prepping and conditioning the minds of its own people on whats about to come in the near future. Imho.

[YuginKadoya]

This sounds very fishy indeed, I guest if they really are into Bitcoin, China will not gonna ban Bitcoin in the first place, but maybe they have a change of hearts and now will have a reconciliation with Bitcoin because they are seeing a bull market at the moment,

But if this is a genuine one that the bank of China really wants to promote bitcoin This can pump the value of Bitcoin I may not say that this can be bullish with the price but at lease, it can pump up the value of Bitcoin and could increase the demand of bitcoin even more.

[BayAreaCoins]

Sell sell sell!