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January 12, 2017 05:29 am PST
Original Link: http://feeds.boingboing.net/~r/boingboing/iBag/~3/Z7s26txk2MU/98-of-bitcoin-trading-volume.html
98% of Bitcoin trading volume over the past six months was in Chinese Renminbi
In case you were wondering why Bitcoin experienced a crazy spike recently: China's economy is a hyperinflated bubble, poised to burst and the Chinese central bank is depreciating the Renminbi -- so China's wealthy are getting their cash out of the country as fast as they can, using any means necessary: suing themselves, spending huge whacks of cash while on vacation, and converting it to Bitcoin (this is especially urgent now that the Canadian real-estate money laundry is shutting down) -- this is just the latest salvo in the Chinese capital flight story.
Original Link: http://feeds.boingboing.net/~r/boingboing/iBag/~3/Z7s26txk2MU/98-of-bitcoin-trading-volume.html
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