Demand for Bitcoin Spikes in Hong Kong as ATM's Run Out of Money
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In light of Friday's Emergency Regulation Ordinance - Hong Kong residents are beginning to fear that their assets will be frozen. This explains the recent spike in local bitcoin trades - setting new records that even rival the 2017 bull run levels. To make matters worse - it has been reported that between 5-10% of ATM's in Hong Kong have run out of money. It remains to be seen if this is a long or short term problem, and if the Hong Kong government will re-instate trust in their central banking system and increase cash flow to re-fill these ATM’s or if public sentiment will continue to slide - pushing people towards alternate forms of currency such as bitcoin.
What do you think? Will this lead to full-on bank runs?
For those that are interested in digging a little deeper - here are the articles mentioned in this video:
XO, Lea
