China wants you to buy Bitcoin and altcoins

china bitcoin

An interesting propaganda news is being circulated in Cankao Xiaoxi, Xinhua, CCTV2 and other CCP owned media outlets and the headline is Cryptocurrency assets are best performing assets in 2020.

This is a difficult news to digest as China’s CCP has been busy doing raids on myriad cryptocurrency projects. This is because cryptocurrencies mean freedom and China wants to increase its control over bitcoin exchanges. According to this Dutch bitcoin site, Cankao Xiaoxi is official media outlet with longest history under CCP, and initially served as a news aggregator for CCP internal use only.

This is a huge news as Cankao Xiaoxi is the only way for Chinese public knows what’s going on in the outside world. Most people on crypto twitter and crypto forums do not understand how big this is. It is extremely rate for such a coordinated effort.

We are really not sure what China is upto here because just few months back, Chinese officials were busy cracking onto local crypto currency projects and telling everyone not to buy any bitcoin or altcoins. Or may be this is change of heart and CCP has realized that Bitcoin is the grand daddy of all assets for years to come.

So, is this a trap or a legit advice by China? You decide.