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China’s crackdown on cryptocurrencies has left exchanges scrambling, their only option apparently being to pull out of the country and try their luck elsewhere.

BTCC, one of the world’s oldest crypto exchange, had to shutter its Chinese-facing operations as soon as the government made its move, but CEO Bobby Lee refuses to give up the fight and believes that Bitcoin will continue to grow spectacularly in value.

“[The] Chinese are crazy about Bitcoin because they love speculation, investment and making money. My advice to Hong Kong investors is to hold at least one percent of their assets in it, in the interest of diversifying their assets. Hong Kong is better than China because you have no foreign exchange controls,” he said in a speech delivered at the Foreign Correspondents Club (FCC).

This public address came on the very day the People’s Daily in China condemned Bitcoin as a “front for speculators” that seek to evade the authority of regulators and governments.

Lee also prophesized that Bitcoin will surpass $100,000 this year and may very well hit $150,000 by 2021.

“Such a fixed amount is unique, and different to currencies controlled by governments, which can issue more when they wish. Bitcoin is the first system of currency not regulated by governments or companies which can control how you spend it, even if it is, in theory, ‘your own money’. I can transfer it to anyone I want and no one can stop me. That is why the monetary authorities hate it. Before, they had a monopoly on our assets,” he added.

Given that Lee still operates his exchange out of Shanghai, his statements will put him at loggerheads with the Chinese government - a position that could make for an uncomfortable future.

Last week, Lee commented on China’s ban while speaking to CNBC’s “Squawk Box,” telling the program it is possible that the government will lift the ban at some point.

His speech at the FCC might have stemmed from his conviction that Beijing’s crackdown is only temporary.