Overnight, the Yuan dropped to the lowest point since December 2008, and experts predict further declines.
The initiative is expected to professionalize and legitimize bitcoin as a financial asset.
The billionaire investor who supported Donald Trump as a candidate for US presidency will have his ear on tech issues.
Bitcoin experts previously predicted that the victory of Donald Trump can result in bitcoin price boost.
Bitcoin has reached its highest value in the past three months, while Chinese central bank is tightening its control over the wealth management product funds.
Bitcoin price boost coincides with yuan weakening as Chinese investors suffer from strict capital controls.
The value of digital currency surged to a 10-week high on October 11, following the devaluation of the Chinese currency that led to a growing bitcoin demand.
According to the internet entrepreneur, the launch of MegaUpload 2.0 and BitCache will cause the bitcoin price surge.
Bitfinex has confirmed that the hacker attack resulted in the loss of approximately 120,000 of bitcoins.
Juniper Research revealed that although Trump’s presidency is ranked within the Top 10 global risks, it can positively influence bitcoin trading.
Within the next few weeks, the reward miners get for creating the virtual currency is anticipated to face the second halving in history of bitcoin.
Although the Winklevoss Bitcoin Trust was initially listed on Nasdaq, Winklevoss brothers have decided to change it to BATS Global Markets.