A look at Monday's Chinese blockchain stock rally
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Quick Take
- On the first trading day after reports of Chinese President Xi Jinping’s comments regarding the use of blockchain for innovation, Chinese blockchain-related stocks spiked in price
- The Block takes a look at the impact of Xi’s comment on 16 blockchain-registered companies
Public reports started surfacing on comments made Oct. 25 by Chinese President Xi Jinping promoting blockchain as a technology for innovative breakthroughs for China. On the Monday following Xi’s comments, Bloomberg published a report on the sudden trading frenzy in the Chinese stock market for blockchain-related stocks. “The gains were widespread Monday, with Insigma Technology […]
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