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by frankchn 4130 days ago
Evading capital controls, perhaps? Since the Yuan is not fully convertible, you can get USD from Yuan by using Bitcoin as an intermediary.
1 comments

Chinese capital controls are easing. The country has a lot of cash and continues to have a lot of income from exports. They're buying nice stuff and taking luxury vacations. They're investing in foreign companies and property. They can afford to, so why not? Were they supposed to just sit on the funds forever?