Hong Kong Investment Fund Bought Chinese BTC Giant BTCC

The funds received as a result of the transaction will be used to expand the international presence of the conglomerate after leaving the Chinese market
30 January 2018   255

The Chinese bitcoin-giant BTCC was bought by an unnamed investment fund from Hong Kong. This is reported by IBTimes.

We currently aren't releasing the information on the fund nor the amount of resources raised.

BTCC Spokeswoman 

Only in 2017, the BTCC mining pool generated nearly $ 900 million in bitcoins, while the company's own currency exchange accounted for more than $ 25 billion. Also, last year, BTCC launched its own mobile Mobi wallet, which, according to the company, already has users more than in 180 countries of the world.

Today's acquisition is an incredible milestone for BTCC that validates all of our hard work over the past few years. I'm very excited about the resources this gives BTCC to move faster and aggressively grow our businesses in 2018 and beyond.

Bobby Lee

Co-founder, BTCC

As added by the BTCC, in the future the company will focus on three main areas of work: the international mining pool, the Mobi wallet and the US dollar-based exchange.

BTCC voiced its position on SegWit2x

Bobby Lee talked with Reddit users and voiced BTCC's position on SegWit2x, Bitcoin price manipulation and BTCC' mining plans
03 November 2017   539

Bobby Lee, co-founder of one of the ex-biggest Chinese cryptocurrency exchange "BTCC", talked with Reddit users. He had made some interesting statements.

On Segwit2X:

We will support more than one chain if there’s enough user demand and if doing so makes economic sense.
BTCC supports altcoin mining; earlier this year, we started mining litecoins, and we will start mining bitcoin cash soon.
In the future, if the Bitcoin Core Legacy (BCL) chain survives, we will consider providing BTCC Pool support for that based on market demand.

Bobby Lee 
BTCC Co-founder

On BTCC mining:

We will mine BTC, and once bitcoin is upgraded in November, we will continue to mine that.

Bobby Lee 
BTCC Co-founder

On Bitcoin Price manipulation:

I believe that bitcoin prices will become harder and harder to manipulate as more and more people worldwide get into bitcoin. Liquidity is increasing significantly. 

Bobby Lee 
BTCC Co-founder

Now BTCC is a mining pool, it stopped all exchange operation some time ago. This was made due to Chinese authorities policy.