China Considers Cryptos 2020's Best Performing Asset
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25 September
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Several media controlled by the Chinese authorities have simultaneously announced cryptos are the best performing asset of the year, CoinDesk reports.

News agency Xinhua has also published an article titled "Cryptocurrency is this year's 'No. 1 asset," which is a summarized translation of an article published by Bloomberg on Tuesday titled "Crypto is beating gold as 2020’s top asset so far."

China Central Television (CCTV) has reported cryptoassets have jumped by 70% since the beginning of the year.

CCTV has caught the attention of the local cryptocurrency community, which considers this unusually positive stance towards cryptos in the media controlled by the state as a bullish signal due to the fact that the Chinese authorities usually make referente to cryptocurrencies when they want to talk about the threats they represent to financial stability.

CCTV has made reference to Bloomberg's index and has highlighted cryptoassets have surpassed gold, which has only increased by 20% this year. Experts believe this is due to the economic stimulus measures taken in several countries in the context of the coronavirus pandemic as well as the boom of the decentralized finance sector.

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