Posted 11/30/2023, 8:04:42 AM
Chinese Capital Outflows to Hong Kong May Boost Bitcoin as Investors Seek Safe Havens
- Chinese investors may move capital from mainland China to Hong Kong to purchase bitcoin and other assets
- Wealthy Chinese individuals and state-owned enterprises use Hong Kong banks for international transactions
- Hong Kong now has regulated crypto exchanges and brokers
- If China provides more yuan credit, the dollar may weaken, boosting assets like bitcoin
- Capital outflows from China to bitcoin don't require Chinese entities to directly purchase bitcoin