One of China’s biggest state-owned banks is now attempting to educate its clients about Bitcoin, publishing a bizarre infographic titled ‘Soaring Bitcoin, let’s take a look’.
The infographic appeared on the the Bank of China’s website this week.
“Bitcoin was once known as the “Myth of Riches”, and at the end of 2017 it was once the highest price of $20,000. So what is bitcoin?” begins the publication.
It goes on to illustrate different opinions about the cryptocurrency, including:
- ‘Bitcoin can make people rich overnight’.
- ‘Bitcoin is a fraud’.
- ‘People who buy Bitcoin are silly’.
Then it lists what are described as ‘Bitcoin Characteristics’:
- High price fluctuations.
- Difficult to fake.
- No tax.
- Anonymous transactions.
Is Bitcoin helping Chinese men find love?
Well according to the Bank of China Bitcoin infographic, yes.
In a bizarre illustration, a woman accepts a man’s marriage proposal after she discovers he has Bitcoin.
The caption above the man in the top image translates to “Marry Me”… Above the woman, “Why?”
Below the man explains, “I have Bitcoin”.
“Let’s get married,” the woman says.
The infographic also includes a Bitcoin time-line, which begins with Satoshi Nakamoto’s white paper and ends with the creation of Facebook’s Libra cryptocurrency.
Chinese state-owned institutions no longer ignoring Bitcoin
The Bank of China is one of the nation’s most powerful state-owned institutions and the fourth-largest bank in the world.
Its recognition that its clients want information about Bitcoin is yet another signal that China’s cynical view on cryptocurrencies is quickly evolving.
Just weeks ago, state-owned Chinese newspaper, Xinhua News, published a ‘financial observation’ labelling Bitcoin a safe-haven asset.
The trading of cryptocurrencies is technically illegal in China, however owning cryptocurrencies is allowed.
Cryptocurrency mining is also highly contentious in China, with mining bans regularly discussed by government officials.