- The crytocurrency is used to hedge further yuan depreciation
- Prices to rise further on strong Chinese demand: Gatecoin CEO
<section class="article-body" itemprop="articleBody" data-tracker-label="body" style="box-sizing: border-box; -webkit-font-smoothing: antialiased; position: relative; padding-bottom: 2.5rem; min-height: 38.75rem; line-height: 1.618em; font-size: 1.125rem; color: rgb(60, 60, 60); padding-top: 0px; float: left; margin-left: 0px; width: 51.25rem;">Share on FacebookShare on Twitter
Bitcoin headed for its biggest weekly jump since June as declines in the yuan boosted demand for the cryptocurrency.The digital tender surged 8.8 percent this week to $685.79 as of 5:01 p.m. in Hong Kong. That’s the biggest gain since June, when prices skyrocketed as investors girded for the results of the U.K.’s Brexit vote.
</section>