There is zero doubt that China is one of the superpowers of the world, by whatever metric you are measuring. The truth is that the country is the largest economy in the world if you measure by purchasing power, and the second largest economy by other metrics. Of course, it should also be stated that the country is the world’s most populous nation, with over 160 cities boasting a population over 1 million, according to World Population Review.
Unfortunately, China has not been trying to cultivate a regulatory framework with regards to cryptocurrency. The country has cracked down on initial coin offerings (ICOs) and cryptocurrency in general, even if some citizens have been circumventing the ban for some time now, according to various reports.
Interest Still There
Whatever action the Chinese government has taken doesn’t change the fact that the people of China are still interested in cryptocurrency and blockchain. A survey undertaken by Chinese media outlet 8btc News showed some very interesting results.
First and foremost, nearly 100% of those surveyed were aware of blockchain and crypto, which for many in the cryptocurrency community, is an astounding statistic. In addition to this, over 80% surveyed considered cryptocurrency a “trendy” investment. Lastly, over 40% of those surveyed would “still invest” in cryptocurrency.
Of course, while some might say that the survey concluded that a “minority” of those surveyed would invest in cryptocurrency (since the number was less than 50%) – many would say that the survey produced various bullish results.
The fact that most of those surveyed indicates that the Chinese people are very much aware of cryptocurrency and blockchain, despite the “crypto ban” that was enforced last year. In addition, the fact that over 40% would still invest in cryptocurrency is interesting, considering that it is technically “banned”.
It’s also important to note that this survey occurred after a massive cryptocurrency bull run, where many could have lost faith. One could note that the number was much higher, and because of the price of Bitcoin (BTC) currently – the investor climate might be quite tepid. Once Bitcoin’s price rises, that could cause much more money flow, as long as key support levels aren’t broken.