Bitcoin’s corpse: A prediction from China’s deputy central banker - SupChina

Bitcoin’s corpse: A prediction from China’s deputy central banker

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Deputy governor of the People’s Bank of China Pan Gongsheng 潘功胜 told participants at a financial forum that China’s shutdown of bitcoin exchanges in September was justified. The Beijing News reports (in Chinese) that he said:

If we had not shut down bitcoin exchanges and clamped down on ICOs [initial coin offerings] several months ago, if China still accounted for more than 80% of the world’s bitcoin trading and ICO fundraising, everyone, what would happen today? Thinking about this question makes me scared.

Pan also predicted the demise of bitcoin, saying, “There’s only one thing you can do: Sit by the river bank and one day you’ll see bitcoin’s body float.”


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Jeremy Goldkorn

Jeremy Goldkorn is co-founder of the Sinica Podcast and currently edits SupChina and its daily newsletter.