China banned Bitcoin mining and this definitely had an impact on the fall in the price of the king coin.
At the moment of writing this article, BTC is trading in the red and the king coin is priced at $31,045.57.
MicroStrategy’s CEO Michael Saylor has been boosting the king coin and he’s been pumping it a lot. He is a massive supporter and his firm has been buying BTC regardless of the price.
Saylor addresses China exodus and more
Now, he addresses some really interesting subjects which include the China exodus and more. Check out the video below.
I shared my views today with @emilychangtv on the China’s trillion dollar mistake, the impact of the China Exodus on #Bitcoin markets and mining, @MicroStrategy‘s Bitcoin strategy and our capital structure, as well as why I am so optimistic about the future of digital property. https://t.co/TdmVnqA1tK
— Michael Saylor (@michael_saylor) June 25, 2021
Someone said: “BIS and the CBs don’t seem to entertain the idea of it much either. He’s saying they’re moving to NA, but what if they have to move again and there’s nowhere to go?”
Another follower posted this message in the comments: “There is lots of places to go that don’t have a communist government that wants to control every aspect of their citizens’ lives. China saw Bitcoin as a capital flight threat.”
A commenter dropped this message: “All this China ban doesn’t make sense to me. Chinese Government are not idiots. They know how investments work. What’s the real reason for their ban ?…please don’t just say CBDC. If they know about Bitcoin, which they obviously do..then why ban instead of…”
Stay tuned for more news and make sure to keep your eyes peeled on the crypto market. We’re at the end of the week so this means that more price drops could come.