• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews
Bitcoinist.com
No Result
View All Result
Could China Learn to Love Crypto Again?
Nexo

Bobby Lee Defiant Against China, Expects Bitcoin to Hit $100,000 in 2018

Jeff Francis by Jeff Francis
5 years ago
in News, Bitcoin, Bitcoin Price, Bitcoin Regulation, News teaser
0
Advertisement

Bitcoin China chief executive Bobby Lee remains defiant in the face of the Chinese government, saying that Bitcoin will continue to thrive and go up in value.


It’s always refreshing to come across a person who remains unbowed in the face of stiff opposition. One such person is Bobby Lee, the chief executive of Bitcoin China, the longest-running Bitcoin exchange in the world until it was shut down by the People’s Bank of China. Despite this, Bobby Lee remains defiant against the authorities in China by staying extremely optimistic on the future of Bitcoin.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Not Backing Down

On the same day that the People’s Daily, the media outlet for the Communist Party in China, said that cryptocurrency was a bubble, Bobby Lee was saying different to the Foreign Correspondents Club (FCC).

Lee remained defiant against Chinese regulators concerning Bitcoin and vigorously defended the cryptocurrency by stating:

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

Chinese are crazy about bitcoin because they love speculation, investment and making money. My advice to Hong Kong investors is to hold at least one percent of their assets in it, in the interests of diversifying their assets. Hong Kong is better than China, because you have no foreign exchange controls.

Bullish on Bitcoin’s Future

In spite of China’s actions against virtual currency, Lee remains extremely optimistic on the future of Bitcoin. He told the FCC that Bitcoin would reach a price of $100,000 in this year and would soar to $150,000 by 2021.

Bitcoin as Safe-Haven and FX Hedge Tests Economic Theories

What is the best crypto casino in July 2022? Read our comprehensive comparison! We made deposits, played and reviewed 80+ crypto casinos to choose the best one.

As for why Bitcoin will continue to go up, Lee says:

The reason that it will go up is the inherent failures and limitation of the world’s monetary authorities. There is only a fixed amount that will be issued, 21 million. Currently, there are 16.5 million outstanding, with one-two million being added each year.

Such a fixed amount is unique, and different to currencies controlled by governments, which can issue more when they wish. Bitcoin is the first system of currency not regulated by governments or companies which can control how you spend it, even if it is, in theory, ‘your own money’.

Even though Bitcoin China is out of the crypto exchange business, Lee says that the company has forged ahead into other areas, such as MOBI and B2B. He concluded his remarks to the FCC by reiterating his unbridled support for Bitcoin, despite what Chinese authorities are doing against crypto, by saying:

Let me give you the four mistakes in investing in bitcoin – be indecisive and wait to invest, do not buy enough, sell after making a small gain, sell after a panic crash … It is a new asset class and is meant to equal gold.

What do you think about Bobby Lee standing firmly behind Bitcoin? Let us know in the comments below.


Images courtesy of Bitcoinist archives and Shutterstock.

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Jeff Francis

Jeff Francis

Related Posts

Anthony Scaramucci

Here’s Why Scaramucci Expects Bitcoin Price To Reach $300,000 Before 2030

14 hours ago
liquidations

Liquidations Cross $280 Million After Bitcoin Price Falls Below $25,000

20 hours ago
Bitcoin

Bitcoin Will Beat Gold As Store Of Value, MicroStrategy CEO Says

1 day ago
Crypto Corner: The Sports Slice

Crypto Corner: The Sports Slice

2 days ago
Bitcoin Miners Continue Distribution, Bad Sign For The Rally?

Bitcoin Miners Continue Distribution, Bad Sign For The Rally?

2 days ago
UNCTAD, document heading

UNCTAD Wants To Curb Crypto Adoption In Developing Countries. Of Course They Do

4 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2022 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.