Hong Kong Investment Fund Acquired Chinese Bitcoin Giant BTCC
January 30, 2018
An unnamed Hong Kong-based investment fund has bought one of the largest Bitcoin companies in China, BTCC. The company intends to use received funds on expanding its business to the world level and leaving Chinese market. So far, no details of the transaction have been disclosed.
BTCC co-founder Bobby Lee said in a statement:
"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."
In 2017, BTCC mined more than $900 million worth of bitcoins and the trading volume on company's exchange have exceeded $25 billion. One of the most popular project of the company is a mobile wallet called Mobi, which is available in 180 countries all over the world. In 2018 BTCC will focus on 3 major areas: a global mining pool, mobile wallet Mobi, and an exchange with a support of the US dollar.