Re:Bitcoin hits year-high of $20
by muyuu on Thursday January 31, 2013 @05:57AM
(#5144399)
Likely they will convert a good chunk of it to CNY not USD. The price arbitrages will go back at USD and other currencies, but the effect is cushioned.
Also, being in China they are likely to keep a good part of the profit in BTC to use in services, since a lot is not allowed over there. This can kickstart a local BTC economy where it's needed the most.
Also, being in China they are likely to keep a good part of the profit in BTC to use in services, since a lot is not allowed over there. This can kickstart a local BTC economy where it's needed the most.