Bitcoin Soars on China President Xi's Blockchain Comments

The Breakdown

On Wednesday, Zuckerberg responded to the largely hostile US Congress by reminding them that, if the US didn't proactively assert leadership around digital currencies, then China would be more than willing to fill the gap. As if they coordinated it,...

On Wednesday, Zuckerberg responded to the largely hostile US Congress by reminding them that, if the US didn't proactively assert leadership around digital currencies, then China would be more than willing to fill the gap. As if they coordinated it, China's President Xi then made his first formal comments ever about blockchain, asserting that China needed to take a leadership role. Bitcoin soared 15% (although whether related or not isn't clear) and crypto Twitter debated: was this an indication of how far behind the US is getting; an affirmation that blockchain can be a tool of surveillance and control; or both?  Watch: <a href="https://www.youtube.com/channel/UCMKxYhVC2lJat7iB9Gec5kw/videos">https://www.youtube.com/channel/UCMKxYhVC2lJat7iB9Gec5kw/videos</a>

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