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Why China is Leading the Global Rise of Bitcoin

(CoinDesk) The Bitcoin story in China sounds like a mini-metaphor for the Chinese economy itself: while the rest of the world was looking elsewhere, its citizens worked to acquire vast amounts of new wealth before bursting into the headlines only recently as a superpower.

As of this November, China is home to the world’s largest-volume Bitcoin exchange (BTC China), some of the largest mining operations, and could well be leading the global rise of Bitcoin.

It was in May that China surpassed all other countries with 84,000 Bitcoin wallet downloads, a world record few noticed. Then came a half hour CCTV2 (Chinese state-owned television) documentary on digital currencies which sparked local interest, and even provoked a mining boom.