Bitcoin Will ‘Never’ Crack China Due To Politics, Says Weiss Ratings

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Bitcoin will not see official acceptance in China, ratings agency Weiss Ratings has declared as hype continues over the country’s Blockchain stance. Weiss: Bitcoin ‘Antithesis’ Of Chinese Politics In a tweet on October 28, Weiss, which has become well known for its no-nonsense tone on social media, said China would “never” use Bitcoin 00. The comments came as China released the latest instalment of its cryptocurrency rankings, which placed Bitcoin eleventh out of 35 tokens. “China will NEVER use (Bitcoin). Period,” the tweet read. “Bitcoin is an open, decentralized, permissionless, censorship-resistant, digital asset – antithesis of everything the (Communist Party of China) stands for.” China’s perspective on Bitcoin has returned to the spotlight in recent days after both president Xi Jinping and the national media heralded a new era of Blockchain for the country. China Warns Against ‘Speculating In Cryptocurrencies’ Following Xi’s speech on Friday, Bitcoin entered a bullish phase,…

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