Bitcoin’s value is going through the roof. But investors and analysts are divided over how cryptocurrencies will play out in global politics. Bitcoin
After a surge in value in 2018, the total value of all cryptocurrencies surpassed $US1 trillion for the first time in January, with about three-quarters of that in bitcoin, according to data compiled by Coindesk.About 65 per cent of all bitcoin mining in April 2020 happened in China,Of those figures, 36 per cent takes place in Xinjiang, the province where the Muslim minority Uighurs are subject to what the US considers to be genocide.
Perhaps for that reason, in 2017, the People’s Bank of China closed bitcoin trading platforms and pressured, if somewhat unsuccessfully, local governments to force miners to exit the business.