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Bitcoin is up a stunning 1100% in 5 months.
But why? Is it the coming collapse of the dollar?
No. It is because China just left a hockey puck on the enter key of their computer that prints RMB. Whether they printed $15 Trillion, $24 Trillion, or just 2-8 Trillion. Doesn't matter. Some smart techno-geeks in China have moved $10B of RMB into BTC. For perspective, let's divide everything by 1 billion. For every $2,000 to $24,000 of RMB printed this year, $10 was moved into BTC.
That is still a very interesting fraction - 1/200 to 1/2400!
That is a lot of hot money!
Originally posted on Facebook on December 04, 2013.
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Published: December 5, 2013 3:57 AM
Last updated: March 6, 2026 10:02 PM
Post ID: 3d56f2d9-c9e1-4c3f-b604-dc92f5a266d6