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Bitcoin China vs Bitcoin USA – Who Controls the BTC Space?

Avatar Guest Author 5 years ago

Bitcoin is mostly an invention of America. Although no one knows much about Satoshi Nakamoto, but it is believed that Satoshi, in the initial phase, spoke and did work on Bitcoin in English. About 18 months ago, China started to experience the wondering taste of Bitcoin. Within a few months, China changed the condition of the market by driving over the amount of $1100. At that time, it created a huge impact in the Bitcoin market because the US had never faced such a kind of huge investment from a new currency.

The Government of China understood the shifting of the financial system in the markets and made the Bitcoin persona non grata while in the case of banking and regulatory sector. This sudden strategy taken by China is an example of the Chinese power on any sort of financial market within a very short period of time (a couple of months).

US vs China Bitcoin

Bitcoin has never been considered as a threat to the national currency, rather it is always thought to be an online commodity for online financial transactions. Over the days of 2014 up until this very current day, China has managed to increase and maintain a huge market share in the digital currency market called Bitcoin. Different global financial data analysts also came to the same conclusion.

According to the data collected from the global financial giant named Goldman Sachs, it can be said that about 80% of the total current Bitcoin transactions are being traded using the Chinese Yuan. From late 2013, China, using its tactical strategies, started to maintain almost 50% of the whole worldwide Bitcoin transactions. Basically, Bitcoin was primarily designed to be the most significant part of the future era of money and at present, China can definitely be considered as an important part of the future of Bitcoin.

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