Internet observers have expressed surprise after the Chinese state-run media outlet CCTV carried some bold predictions about bitcoin (BTC)’s long-term future – and featuring a forecast that BTC fever may apply downward pressure on gold.
CCTV is one of China’s leading, state-operated broadcasters, with a daily readership and viewership in the millions. Since the crypto crackdown of September 2017, BTC and altcoins have been strictly off the agenda for CCTV and the like – mostly featuring in reports about scams and articles that seek to point out the differences between blockchain technology (which Beijing champions) and crypto (which it vilifies).
But internet users have taken cheer after a report from China Securities was picked up by the CCTV news platform featuring the bold prediction that BTC was beginning to “outshine” gold.
Qiao Wang of the DeFi Alliance accelerator wrote on Twitter,