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The "Blockchain important" cryptocurrency jumped 40% a day after Xi Jinping's statement



Xi Jinping President of the Chinese National. [AP=연합뉴스]

Xi Jinping President of the Chinese National. [AP=연합뉴스]

In the words of China's Xi Jinping national comment that blockchain technology is important, the price of bitcoin cryptocurrency jumped 40%.

According to the Xinhua News Agency on the 26th, Xi said on the 24th that he must lead a collective learning about the development and trends of the blockchain from the Communist Party Central Committee's Political Bureau and make efforts to develop blockchain technology.

Xi said, "Blockchain technology is applied in finance, internet, smart manufacturing, asset trading, etc.," and "the main countries of the world are focused on developing blockchain technology."

At the same time, "China must also accelerate the development of blockchain technology and the development of innovative industries."

Mr. Xi said that China has a good foundation for the blockchain sector, and "strengthens basic research and enhances the ability to innovate so we can lead the theory of blockchain, innovation and industry in the future."

He also announced plans to increase China's voice and make regulations internationally through blockchain standardization studies.

Mr Xi's comment caused a surge in Bitcoin cryptocurrency prices based on blockchain technology.

According to Forbes, the price of cryptocurrency jumped 40 percent on the 25th after Xi's comments. Forbes said that Tinsey's emphasis on blockchain technology worked well, breaking through the psychologically important $ 10,000 limit. Phobos said investors were paying attention to the overflow effect of Xi's comments in China. Koidesk raised the price of bitcoin to $ 13,332.

By Lee Min-jung, staff reporter lee.minjung2@joongang.co.kr



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