China’s link with cryptocurrency is not only limited to government initiatives but also the local users that still dominate the Bitcoin mining landscape. Primitive Ventures’ Dovey Wan, who also holds deep understanding of China’s financial market, recently claimed the aforementioned reason as the primary factor for China’s sizable local crypto supply. She also added,
“Probably over 70 to 80% hash rate are actually being produced here in mainland China.”
On the contrary, Wan spoke about an emerging trend in which the Chinese investors are becoming increasingly skeptical about investment in cryptocurrency as Bitcoin’s price makes a sluggish recovery. In this regard, the market might see an increased involvement from the Chinese community as Bitcoin trades above $20,000.
Additionally, Wan also mentioned although China has made headlines for its recent crypto developments, the stringent regulations within the Chinese geography stands as another factor for crypto exchange establishments. While talking about her recent investments, Wan highlighted that every investor must ask “whether those things can actually outperform Bitcoin.”
Ending the interview with a general financial advice, Wan said