China's central bank calls bitcoin 'investment alternative'

Monday, 19. April 2021 08:49

Deputy Governor of the People's Bank of China, Li Bo, said on Monday the central bank sees Bitcoin as an "investment alternative," suggesting a major policy shift when it comes to cryptocurrencies.

"We regard Bitcoin and stablecoin as crypto-assets... These are investment alternatives... They are not a currency per se. And so the main role we see for crypto assets going forward, the main role is investment alternative," the official argued at a panel organized by CNBC at the Boao Forum for Asia.

Following the discussion, Bitcoin gained 1.05% to trade for $56,865 at 2:48 am ET. The world's most popular cryptocurrency has almost doubled in value since the start of the year.

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