Also 50000 CNY is almost 6 grand in € which is not much to some of us western middle class spoiled people but it is a lot to small Chinese worker class that is desperate for investing into stores of value that are not debased/stolen by their own government.
It's not the Chinese working class who are buying BItcoin. Its the Chinese rich (maybe with questionable sources) who have much more money than the European middle class. Hence why the biggest property owners in cities like London are.... Chinese private investors. You're living in the dark ages. Chinese people have money and they want to burn it. Many have a LOT of money to burn.
See all the visa schemes aimed at Chinese, where they can buy a passport for places like Australia or Canada if they can spare maybe a few hundred thousand dollars? Yeh, they're over-run and Canada had to decline everyone because so many Chinese have that much cash sitting around. It's totally absurd to even mention the Chinese workers.
And Canada has now suspended the visa fast track program for rich investors. Thank god, maybe I'll actually be able to buy a place in Vancouver soon. Most of the high end real estate here is owned by rich Chinese and HK investors that have bought them and keep holding.
