Bitcoin China chief govt Bobby Lee stays defiant within the face of the Chinese authorities, saying that Bitcoin will proceed to thrive and go up in worth.

It’s all the time refreshing to come back throughout an individual who stays unbowed within the face of stiff opposition. One such individual is Bobby Lee, the chief govt of Bitcoin China, the longest-running Bitcoin trade on this planet till it was shut down by the People’s Bank of China. Despite this, Bobby Lee stays defiant in opposition to the authorities in China by staying extraordinarily optimistic on the way forward for Bitcoin.

Not Backing Down
On the identical day that the People’s Daily, the media outlet for the Communist Party in China, stated that cryptocurrency was a bubble, Bobby Lee was saying totally different to the Foreign Correspondents Club (FCC).
Lee remained defiant in opposition to Chinese regulators regarding Bitcoin and vigorously defended the cryptocurrency by stating:
Chinese are loopy about bitcoin as a result of they love hypothesis, funding and earning profits. My recommendation to Hong Kong traders is to carry at the least one % of their property in it, within the pursuits of diversifying their property. Hong Kong is best than China, as a result of you don’t have any international trade controls.
Bullish on Bitcoin’s Future
In spite of China’s actions in opposition to digital forex, Lee stays extraordinarily optimistic on the way forward for Bitcoin. He informed the FCC that Bitcoin would attain a worth of $100,000 on this 12 months and would soar to $150,000 by 2021.

As for why Bitcoin will proceed to go up, Lee says:
The purpose that it’s going to go up is the inherent failures and limitation of the world’s financial authorities. There is just a set quantity that shall be issued, 21 million. Currently, there are 16.5 million excellent, with one-two million being added every year.
Such a set quantity is exclusive, and totally different to currencies managed by governments, which might difficulty extra once they want. Bitcoin is the primary system of forex not regulated by governments or corporations which might management the way you spend it, even whether it is, in concept, ‘your personal cash’.
Even although Bitcoin China is out of the crypto trade enterprise, Lee says that the corporate has solid forward into different areas, corresponding to MOBI and B2B. He concluded his remarks to the FCC by reiterating his unbridled help for Bitcoin, regardless of what Chinese authorities are doing in opposition to crypto, by saying:
Let me provide the 4 errors in investing in bitcoin – be indecisive and wait to speculate, don’t purchase sufficient, promote after making a small acquire, promote after a panic crash … It is a brand new asset class and is supposed to equal gold.
What do you concentrate on Bobby Lee standing firmly behind Bitcoin? Let us know within the feedback under.

Images courtesy of Bitcoinist archives and Shutterstock.
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