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Anorak | The Real Reason For Bitcoin’s Surge In Price

The Real Reason For Bitcoin’s Surge In Price

by | 25th, November 2013

I’VE long been a bit mystified by Bitcoin. You know this electronic currency that the geeks have been playing with for the past couple of years? As a little experiment yes, I can see it, but as a replacement for other currencies I tend to think that it won’t happen. But still, if people want to play with it, speculate on it, why the hell not?

Just in the last couple of days there’s been a surge in the price. And everyone’s been a bit puzzled by it but now there’s an explanation that does at least make sense. It may or may not be true, but it does actually make sense. That explanation is here :

Capital controls in China are strict. It’s easy to bring money into the country, but getting it out (to invest or spend) is more difficult. That means there are are plenty of wealthy Chinese citizens and residents looking to move their money around the world with

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Posted: 25th, November 2013 | In: Money, News Comment | Follow the Comments on our RSS feed: RSS 2.0 | TrackBack | Permalink