Hong Kong businessman invests in BitPay

A harsh warning from the People’s Bank of China does not seem to bother one Hong Kong businessman from investing

A harsh warning from the People’s Bank of China does not seem to bother one Hong Kong businessman from investing in Bitcoin’s future.

Li Ka-shing, the 8th richest man on the planet according to Forbes magazine, has invested an undisclosed amount in Bitcoin payment service provider BitPay. The 85 year old business tycoon invested in BitPay through his own venture capital firm, Horizons Ventures. Horizons Ventures is known for making early investments in the social network Facebook, and in VIOP and IM service Skype. Horizons Ventures has not released any details on the investment as of yet.

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BitPay is one of the world’s leading payment service providers of Bitcoin payments, and supports over 15,000 merchants in over 200 countries. This year alone, BitPay processed over $100 million in Bitcoin transactions.

“We are fortunate to have the benefit of many supportive investors, including Horizons Ventures,” BitPay released in a statement on the investment.

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Bitcoin has been a hot topic in Asia recently, with the People’s Bank of China announcing their position on cryptocurrencies and Bitcoin in particular, banning its use as a currency, or to be traded in the local Yuan. After PBOC’s announcement, other countries began to announce their positions on digital currencies.

For a better understanding on the global regulations of Bitcoin, check out our Bitcoin regulatory status guide explaining the position of 13 countries who have made announcements on the subject.

 

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