Casper Cheng Tsz-chun, 16, a Bitcoin enthusiast, poses for a photo at SCMP studio, Causeway Bay on Dec. 18, 2013. Photo: SCMP/Thomas Yau
Bitcoin bubble won't last without Beijing's approval
Andy Xie believes the Chinese government's regulatory crackdown on the digital currency will starve this bubble of the credulous retail investors it needs to sustain itself and grow
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Bitcoin
Casper Cheng Tsz-chun, 16, a Bitcoin enthusiast, poses for a photo at SCMP studio, Causeway Bay on Dec. 18, 2013. Photo: SCMP/Thomas Yau