Bitcoin Jumps to Three-Month High as Yuan Weakness Fuels Buying

Via Justin Lee @ Bloomberg.com

  • “Bitcoin rose to an almost three-month high amid a surge in volume as the yuan extended a six-year low, bolstering Chinese demand for alternative assets”
  • “As the yuan enters a path of depreciation, investors will consider investing in assets that can preserve value and hedge risks,” said Zhu Jiawei, Beijing-based chief operating officer at Huobi, one of the largest Chinese bitcoin exchanges”

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