Bitcoin China Soars To Record High Amid Capital Control Concerns
by Tyler Durden
ZeroHedge.com
Jan 4, 2017
While Yuan rallied following last night’s trial balloon by the PBOC – when as reported overnight the PBOC was studying possible scenarios of yuan exchange rate and capital outflows in 2017 based on models, stress tests and field research, and is preparing contingency plans – Bitcoin in China soared to new record highs amid massive volumes.
It appears fears of crackdowns on “virtual” currency outflows – as described by China researchers – is not there yet as the momentum-chasing Chinese have found a new friend as Commodities crumble.
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