The democratic and anti-government protest movement in Hong Kong is driving the wider adoption of cryptocurrencies, and in the first place, bitcoin.
Yahoo! Finance reports that the political turmoil in the city has led many local companies and individuals to switch to cryptocurrencies.
Pricerite, a Hong Kong-based retail chain, has announced the launch of Bitcoin, Lightcoin, and ether at its fourteen locations in Hong Kong. The company noted that it could quickly convert cryptocurrency to Hong Kong dollars using the Lightning Network.
In addition to traditional retailers, the cryptocurrency firm Genesis Block operates 14 cryptocurrency ATMs located in the city. In July, the company distributed water to protesters, for which it was paid through donations to Bitcoin Cash (BCH).
The surge in interest in cryptocurrencies occurs against the background of other manifestations of economic activity. Earlier this month, protesters held a rally aimed at withdrawing money from bank accounts and converting local currency into American dollars.
It was reported that in June, local rich people with fortunes of more than $ 100 million began to transfer their assets abroad.
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