Bitcoin up 36% YoY after China warned BTC was ‘heading to zero’
Despite warning about Bitcoin’s “worthlessness,” China has apparently never prohibited its citizens from hodling the cryptocurrency. The government of China has tried hard to make people believe that Bitcoin (BTC) would become worthless, but its predictions to date have been far off the mark. The original cryptocurrency has gained around 36% since the Chinese government stated it would become worthless in 2022. Amid the bear market, China attempted to capitalize on a massive market decline, warning crypto investors that Bitcoin prices were “ heading to zero.” In June 2022, the Chinese national news media agency, Economic Daily, issued a warning about Bitcoin to assure citizens the asset was a worthless “string of digital codes.” “In the future, once investors’ confidence collapses or when sovereign countries declare Bitcoin illegal, it will return to its original value, which is utterly worthless,” the article read. While it’s yet to be seen whether Bitcoin is heading to zero one da...