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BTC · 4w

Bloomberg Publishes Fake News on Bitcoin as China Prints $100 Billion

Bloomberg, the anti-bitcoin publisher of the pre-internet age, has sent out outright fake ‘breaking news’ that sent bitcoin’s price down by $2,000 from $45,000 to $43,000.

As can be seen above Bloomberg said, without linking to a source, “the Chinese central bank says all cryptocurrency-related transactions are illegal.”

That’s false. What China’s central bank said is just a re-iteration of what they said in 2017. Published on September 15th, PBOC stated:

“Virtual currency-related business activities are illegal financial activities. Carrying out legal currency and virtual currency exchange business, exchange business between virtual currencies, buying and selling virtual currencies as a central counterparty, providing information intermediary and pricing services for virtual currency transactions, token issuance financing, virtual currency derivatives transactions and other virtual currency related Business activities suspected of illegal sale of tokens and tickets, unauthorized public issuance of securities, illegal operation of futures business, illegal fund-raising and other illegal financial activities are strictly prohibited and resolutely banned in accordance with the law. Those who carry out related illegal financial activities constitute a crime shall be investigated for criminal responsibility in accordance with the law.”

This has been their position for five years and nothing has changed except they say people in China that aid overseas companies that provide crypto services to the Chinese may be investigated. Again, what you’d expect.

Especially as this very PBOC has printed nearly $100 billion this week. $10 billion of it just today and another $71 billion in the past five days with more probably to come on Saturday.

To distract from this mass CNY devaluation and to dissuade Chinese citizens from escaping to safe havens fixed supply assets, like bitcoin, they just repeating themselves maybe in the hope Bloomb...

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