HomeBitcoinChina and Bitcoin: "It's a big deal", tweets CZ

China and Bitcoin: “It’s a big deal”, tweets CZ

Changpeng ‘CZ’ Zhao, CEO of Binance, has just tweeted in the past hour that Chinese-speaking communities are “buzzing” after China Central Television made a broadcast about Bitcoin.

“It’s a big deal,” he wrote on Twitter. “Historically, coverages like these led to bull runs.

“Not saying past predicts the future. And not financial advice.”

The website shared in CZ’s tweet to his 8.4million followers seemingly shows a Bitcoin ATM in Hong Kong, as retail investors are now being allowed to buy the coin.

The tweet has since been viewed 981k times and retweeted more than 3,000 times – and rising.

China and crypto

The loosening of retail rules in China is a major landmark for the crypto market.

In 2021, China banned the use of cryptocurrencies and Bitcoin mining. But, from 1 June, retail investors in Hong Kong will be able to trade the market’s biggest players such as Bitcoin and Ethereum, according to a new rules announced by the city’s Securities and Futures Commission (SFC).

At the time of writing, the price of Bitcoin is trading at $26,199.01, down 3.71%, while ETH is down 3.41% to $1,787.29.

The global crypto market is currently down to $1.10tn – a rather steep fall of 3.32%.

Scarlett D
Scarlett D
Scarlett is a passionate NFT and Web3 reporter for CoinNews, where she covers the latest trends and news in the ever-evolving world of non-fungible tokens. With a knack for uncovering hidden gems and an infectious enthusiasm for all things NFT, Scarlett has quickly become a go-to source for crypto collectors and Web3 aficionados alike. Before joining the CoinNews team, Scarlett earned her stripes as a freelance writer, covering topics ranging from blockchain technology to digital art and virtual reality. Her diverse background and keen eye for detail have equipped her with a unique perspective, allowing her to deliver fresh and engaging content that resonates with the rapidly growing NFT community.

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