19 October 2018

Mt Gox shutdown sparks China bitcoin gold rush, SCMP says

Chinese investors rushed to buy bitcoin after the value of the virtual currency fell in the aftermath of the Mt Gox bitcoin exchange shutdown this week, the South China Morning Post reported Thursday. More than 30,000 bitcoins have changed hands in China since Tuesday, four times the usual trade volume, the report said, compared with just 300 exchanged in the United States. Hao Hong, from Bank of Communications, said the closure of one of the largest exchanges means it will be “a little difficult to cash in even if there’s a technical rebound.”

– Contact HKEJ [email protected]


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