Xi's speech may have suggested to investors that a potentially expansive consumer base for cryptocurrency could begin to open.
"We must take the blockchain as an important breakthrough for independent innovation of core technologies," Xi said."[We must] clarify the main direction, increase investment, focus on a number of key core technologies, and accelerate the development of blockchain technology and industrial innovation."
The price of Bitcoin cracked $10,000 briefly Friday night, a symbolic but notable threshold the digital currency has not reached in over a month, at which point it had been enduring a steep sell-off. Bitcoin has had something of a volatile week, owed in large part to testimony delivered Wednesday by Facebook CEO Mark Zuckerberg, whose company is seeking to develop its own cryptocurrency: Libra.
In early October, a raft of association members, including Visa, Mastercard and eBay, announced they would be exiting the project. The Libra Association now reportedly has no major U.S. payment processor to work on the currency's development.
France Dernières Nouvelles, France Actualités
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