Quote:

---

Bitcoin continued its upward ascendancy fueled by a unanimously positive and wild acceptance by the Chinese, at one point with the value touching $900, leaving most of us wondering why we didn’t get in when it was still worth the less than the price of two Xbox Ones.

Now, seemingly out of the blue, China has announced that it would rein in its purchase of US dollars. "It's no longer in China's favour to accumulate foreign-exchange reserves," Yi Gang, a deputy governor at the central bank, said on Wednesday.

.... Meanwhile in Russia, perhaps sensing opportunity to weaken its international rival, there’s a growing movement to ban the US dollar outright, citing America’s growing debt problems, a move the bill’s author admits would be a “provocation” of sorts.

---