As political uncertainty grips Hong Kong more and more traders and retailers are turning to alternative assets or what many believe as safe-haven assets such as Gold and more recently bitcoins.
In Hong Kong, as political unrest gripped the autonomous territory of China more and more retailers have begun accepting crypto in preparation for further financial uncertainty.
According to the Bitcoin Association of Hong Kong, Department store Pricerite has started to accept payments in cryptocurrencies.
Recent political events have been tied to the increase of demand in Bitcoin in Hong Kong wherein a bitcoin premium developed similar to what happened in South Korea during the height of 2017 bull run which and was dubbed as the kimchi premium.
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