Post
Topic
Board Economics
Re: Why is china buying so much bitcoins?
by
texasaggie
on 04/02/2014, 18:44:14 UTC
The government with the new premier is trying to crack down on the ultra-rich that have made their money through the government monopolies in industry and from kickbacks from foreign companies.  These folks are turning their hoards of cash into anything tangible around the world that can't be controlled by the government.  This is why if you look at NY real estate, high-end auctions and other big ticket purchases of gold are all going to people from China recently.