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China warns Bitcoin could ‘go to zero’ after crypto market crash

on June 22, 2022
in Economy
crypto market crash

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China warns Bitcoin could ‘go to zero’ after crypto market crash

Economic Daily, run by the Central Committee of the ruling Chinese Communist Party, published an article on June 22, warning investors about the risk of Bitcoin prices “heading to zero,” after the carnage of the crypto market, South China Morning Post reported (https://www.scmp.com/tech/policy/article/3182654/bitcoin-market-meltdown-prompts-fresh-warning-china-value-worlds).

“Bitcoin is nothing more than a string of digital codes, and its returns mainly come from buying low and selling high. (…) In the future, once investors’ confidence collapses or when sovereign countries declare bitcoin illegal, it will return to its original value, which is utterly worthless.”🔥🔥🔥🔥🔥🔥🔥🔥

Source: Finbold

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