Chinese Crypto Backed By Gold. Max keiser in an rt show suggested that the new chinese digital currency could be backed by gold. The chinese government has given no indication that it holds any bitcoin, nor would its recent attitude towards crypto suggest that it would be likely to divulge that sort of information.
Developments have been carried out since 2014. There, therefore, has never been a better time to buy gold than now. This would be followed by an announcement that the chinese government is developing its own digital coin that is backed by gold.
The prices of the metals rose, gold +$11 and silver +$0.25.
But has become an increasingly popular trend amongst the. Gold could serve as a direct back up; Developments have been carried out since 2014. Crypto currency is a great fit for such an app.