ChineseInvestors.com, Inc. (OTCQB: CIIX) CEO Warren Wang remains bullish on the future of bitcoin and other cryptocurrencies, and he recently said in a podcast interview that the Chinese-speaking community worldwide is eager to learn more about buying and managing digital currencies. Despite China’s ban on trading cryptocurrencies on a regulated exchange, he noted, many Chinese investors are buying and selling them on unregulated offline platforms.
In an interview with the Bad Crypto Podcast (http://nnw.fm/oO7WI), Wang explained that the Chinese investor is an important target for cryptocurrency entrepreneurs. “The Chinese investor is an advocate of gambling,” he explained. “Most today trade bitcoin and other cryptocurrencies on the offline market. The Chinese-speaking people within China and also in North America — the U.S. and Canada — are excited about bitcoin.”
CIIX recently hosted and installed a Bitcoin ATM in the lobby of its San Gabriel, California, headquarters (http://nnw.fm/VIa3n). Wang called it the first ever by a Chinese company in the U.S. The company also recently attended a Toronto cryptocurrency roadshow and educational seminar on how to buy, sell and manage these coins, he noted in the interview. CIIX has doubled down on its commitment to bitcoin. It produces a daily video from the NYSE called ‘Bitcoin Multimillionaire’ focused on news of the currency (http://nnw.fm/Lfrx8).
The company addresses Chinese-speaking audiences worldwide on the subject of investing in bitcoin and other cryptocurrencies, and now, with the ATM, it is actively involved in their trade. Wang has set the goals for CIIX in FY2018 as profitability, lower costs and greater than 100 percent year-over-year revenue growth (http://nnw.fm/Q9zhQ).
Wang said that despite the lack of a regulated Chinese exchange to trade cryptocurrencies and the Chinese government’s ”badmouthing” of bitcoin though its official TV media outlet, there is a great desire by the Chinese-speaking people within China and North America to buy, sell and trade bitcoin.
“Real estate is very expensive and so are labor and rents in China,” he said. “Investors have a high savings rate. They now would like to make bitcoin and other cryptocurrencies part of their assets. They are trading offline on platforms of decentralized exchanges to do so.”
He advised entrepreneurs within the industry to be patient while the Chinese investment community learns about issues like the digital wallets used for buying, selling and managing bitcoin. “The average Chinese investor may have up to $5,000 to invest in these currencies,” he said. “But be patient.”
Wang said that, in the future, China may organize a regulated market for the trading of cryptocurrencies in order to keep monies involved in that trading within China. “But, until now, this has not happened,” he concluded.
For more information, visit the company’s website at www.ChineseInvestors.com
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