Beating Buffett Series
The Chinese authorities have thrown almost everything imaginable at it, even the kitchen sink if possible.
They have “cordoned off” the world’s top exchanges, summoning personnels for questioning, spot-checking the offices, monitoring the operations, blocking deposits and withdrawals, now just short of closing them down.
Well they can’t or won’t do that, because it would be a tight slap to their own face if they do. A crypto-fiat project is widely believed to be underway, creating unnecessary panic and distrust is the last thing they want to see.
Instead of cooling off the price of Bitcoin surges ahead towards historical height, a tight slap nevertheless.
Looks like the most face wanting authority in the world is caught between a rock and a very hard place, damn if you do damn if you don’t Catch 22 situation.
So what to do then? Don’t ask me. If I know I would be appointed a major post wouldn’t I? Furthermore I have predicted back in 2014 that Bitcoin will be a pain in where the sun doesn’t shine to governments and banks worldwide.
By the way, stay long with Bitcoin, as usual, just like I did 3 years ago.