The US-China trade war brings new investors into Bitcoin

The US-China trade war brings new investors into Bitcoin

The US-China trade war pushes Chinese investors toward Bitcoin

With the fall of the Chinese yuan as the US-China trade war continues, there are signs that Chinese investors are increasingly moving funds into Bitcoin.

According to a price analysis done by Bloomberg, the negative correlation between yuan and bitcoin has dropped to a record level in the last seven days.

The fall in the value of the yuan has prompted Chinese investors to invest in cryptocurrencies, according to exchange data. Dr. Garrick Hileman, research director at Blockchain.com, said that on exchanges like Huobi, which deals more with Chinese traders, Bitcoin is traded at a premium.

The inverse correlation between bitcoin and yuan was also noted in April and May

“Because there has been a deterioration in US-China trade relations,”

Hileman said.

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Jack Dorsey: Twitter doesn’t need a cryptocurrency similar to Libra

Jack Dorsey, CEO of Twitter and Square, said he did not plan a cryptocurrency specific to the Twitter platform. He said he would focus on promoting Bitcoin (BTC).

According to an interview published by The Sydney Morning Herald, Dorsey is confident that Bitcoin is still the most likely candidate to be the native currency of the internet. Twitter CEO mentioned:

“I think that open internet standards serve every person better than those controlled or started by companies.”

Dorsey also mentioned that she does not intend to follow the Facebook example by leaving a dedicated cryptocurrency Twitter. He prefers to promote cryptocurrencies based on open source and open source codes, such as Bitcoin.

Telegram launches the code for running the nodes

The Telegram blockchain project, TON, has entered the final stage of preparation before it is officially launched.

The code for running a node on the network was released on Friday, so those interested can test the implementation of a complete node, a validator node, and the blockchain explorer.

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According to Mitja Goroshevsky, CTO of TON Labs, there are currently 100 nodes maintained by Telegram on the testnet.

“The source code has been released for a complete node that can access testnet, create and validate blocks. The Lite client was launched a few months ago, and TON Labs will launch Public Beta from its developer suite on September 9, ”

Goroshevsky said.

The launch of the mainnet for the Telegram open network is scheduled for October 31.

Justin Sun reschedules the meeting with Warren Buffet

Apparently, Justin Sun, CEO of TRON and BitTorrent, is trying to reschedule the meeting with Warren Buffett, CEO of Berkshire Hathaway. He won the right to a lunch with the “Oracle of Omaha” two months ago at a charity auction. Sun paid $ 4.6 million for this right and had originally planned to take place on July 25.


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