Chomping at the Bitcoin: The Past, Present and Future of Bitcoin in China: Penguin Specials

In May 2013, China’s main state-run broadcaster aired a documentary about a little known virtual currency called Bitcoin. Over the next six months, the value of Bitcoin rocketed as Chinese money poured in.

In May 2013, China’s main state-run broadcaster aired a documentary about a little known virtual currency called Bitcoin. Over the next six months, the value of Bitcoin rocketed as Chinese money poured in. Unfortunately for many latecomers, the rapid rise in Bitcoin’s price and popularity also attracted government scrutiny, causing an unforeseen and catastrophic plummet in value. In this China Special, finance industry expert Zennon Kapron investigates this mysterious digital currency and the far-reaching implications of its use in China and around the world.