— Virtual currencies are surging as people turn to them to make ends meet amid concerns over a crackdown on the emerging global digital currency.
And the surge is fueled in part by the recent introduction of a U.S. government-issued digital currency known as the “Bitcoin.”
But the boom is also fueled by a virtual currency known to be created and traded by China.
For example, a digital currency created by China’s government-backed Internet Corporation of China, or CIC, which is not listed on the New York Stock Exchange, is currently trading for around $8,000 on Binance.
“It’s a currency that people can get on their phone and buy things, which in a sense is pretty cool,” said Michael Krawitz, who runs a company called Beijing Futures Trading.
Krawitz said his company has been selling the Bitcoin to Chinese buyers in the past, and has been able to make a profit.
But he says he’s now selling it to a wider range of buyers.
He estimates that about half the buyers in China buy the Bitcoin on their phones to trade with each other.
In a statement, Bitcoin exchange Mt.
Gox said it has been accepting Bitcoin for trading since Feb. 24.
It’s not the first time the currency has made a splash in China.
In September, a report from Bloomberg New Energy Finance said that Bitcoin’s price rose from $2,500 in 2013 to about $6,400 in 2015.
The report was based on data from CoinMarketCap.com, which uses data from Coinbase, a U