Bitcoin’s price has been surging crazily in the recent, it hit an apex of USD 1,240 on December 5 2013. Early in January this year, Bitcoin’s price was USD 13. Chinese buyers played an important role in the surging of Bitcoin.
BTC China daily transaction ranked top in the world, even some taobao sellers accepted Bitcoin as currency. Bitcoin became the new investment tool for Chinese rich people.
BTC China, registered in June 2013, is the biggest Bitcoin transaction platform. The recent 30 days transaction accounted for 35.6% of global transaction, 10% higher than second transaction platform Mt.Gox.
BTC China Vice president said 92% of BTC China users were male, 93% were below 40 years old and 90% had a bachelor degree. Statistics showed that there were about 30 Bitcoin secondary market transaction platforms with over 200,000 registered users. Average number of daily users in transaction was approximately 40,000.
Bitcoin acceptance globally has increased by 80%, 1,400 retailers accepted Bitcoin. 20 of which were in China, 7 in mainland China.
Analysts commented the cause of Bitcoin’s popularity in mainland China largely attributed to the rigorous capital regulation. Since there’s none existent regulation for Bitcoin, and the transaction was anonymous. However, the situation might change after the announcement of People’s Bank of China.