Why China’s Ban Was The Best Thing For Bitcoin In 2021

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When China’s bitcoin crackdown came into effect, many speculated that the industry would never recover. Amazingly, though, the ban served to highlight both the resilience of the sector and the entrepreneurial spirit of the miners who keep the wheels of the blockchain turning.

Despite the People’s Bank of China (PBOC) deeming crypto-related activities illegal in September, bitcoin enjoyed a banner year in 2021, smashing its previous all-time price high (ATH) as institutional players joined the party. Far from representing a death knell, the much-hyped ban barely had an impact in the larger scheme of things.



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