Increasing adoption of cryptocurrencies in 2021 has led many companies into this space.
While many US banks and companies sought exposure to cryptocurrencies, Chinese companies had to lag behind this race.
While China’s repressive policy towards cryptocurrencies and Bitcoin bans prevented Chinese institutional investors from revealing their crypto investments, a positive statement came from the AliBaba wing.
Chinese e-commerce giant Joe Tsai, Alibaba’s Executive Vice President in his social media account “I love crypto” said.
While Tsai’s post rekindled the claims that “Alibaba has invested in Bitcoin”, Binance CEO CZ did not remain indifferent to this sharing.
“I love Tsai,” CZ said, quoting Tsai’s post.
I like Joe https://t.co/axjaRtPoe3
— CZ 🔶 Binance (@cz_binance) December 28, 2021
Although Alibaba institutionally invests directly in the NFT, Metaverse and Blockchain space, it has not made a statement about crypto investments to date.
Although some of the posts made by Binance CEO CZ months ago were interpreted as “AliBaba bought Bitcoin”, there was no official statement on this subject.
Considering China’s policy of pressure on cryptocurrencies, the Alibaba Chief Executive Officer’s crypto-sharing is considered a bold move.
We will be watching if there is a good purchase news after this brave move.
*Not Investment Advice.