Bitcoin Goes Viral Again on China’s Weibo As the Price Rallies to $13K
To the delight of hodlers, bitcoin price broke $13,000 following the news that PayPal will add crypto buying and selling features to its payment platform. The largest cryptocurrency then goes viral again on China’s Twitter equivalent Weibo.
Weibo trends show that the hashtag #BitcoinPump# has been the ninth-most popular search terms on the country’s biggest social media platform, with viewership hitting over 70 thousand.
“People who achieve financial freedom only realize the freedom of ‘money’, while Bitcoin can bring them ‘free money’, which means that wealth is no longer the number on the bank account. And the amount of exchange is no longer $50000 a year. Transactions will no longer be tracked to do the so-called big data precision marketing, nor will they be ransacked by inflation.”
Comments from a Chinese Weibo user under the hashtag #BitcoinPumpl#, industry watchers believe that it is a bullish signal and a good advertisement for the crypto market, and it indicates that the massive interest in bitcoin in the world’s second-largest economy might help raise public awareness and bring in more crypto investors.
The dip seen in Bitcoin price last week after a top member of OKEx, one of China’s top three cryptocurrency exchanges, was reportedly held in police custody has been made up for by the announcement that global payment giant, PayPal will start allowing the buying and selling of cryptocurrencies on its network. Now the OKEx P2P platform has resumed trading on Wednesday, Oct. 21 for CNY, INR, and VND fiat pairs as well.
A Weibo user launched a vote on “Have you ever bought bitcoin?” in which a total of 50000 individuals took part. The results showed that only 5764 people had bought bitcoin, and the remaining 44000 said they had never bought bitcoin.
This is not the first time bitcoin has been the trend on Weibo. Although the comments below the hashtag show that most Chinese netizens still consider bitcoin a Ponzi scheme, bitcoin has come into the eyes of more and more Chinese netizens.