“Very bullish”: China’s cryptocurrency ban could be a boon for Bitcoin’s security

Great American Mining co-founder Marty Bent has opined that Chinese mining giant Bitmain moving its manufacturing operations from China to other countries would be “extremely bullish” for the largest cryptocurrency.

Bent believes that it would be a significant “de-risking moment” for the largest cryptocurrency.

Kevin Zhang, vice president of business development at Foundry Service, has tweeted that he expects the lion’s share of Bitmain’s business production to move to Malaysia and Indonesia amid China’s ramped-up clampdown on the cryptocurrency mining sector.

He believes that this shift would have some “serious implications” that pertain to logistics costs and the manufacturing process:

Losing loyal domestic buyers/resellers that will have to reincorporate abroad, increased logistics costs, potential quality issues, more friction with Chinese management, and outsourced manufacturing.

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