Wang Xuezong: The recent action is beneficial to the long-term development of the bitcoin and blockchain industries.

Economist Wang Xuezong released Weibo today: Recently, Shanghai and Shenzhen began to investigate the project of pyramid schemes in the name of counterfeit blockchain. Bitcoin fell below $7,000. Combating the counterfeit blockchain project is of positive significance to the benign development of the industry. The phenomenon that bad money drives out good money is too serious. Some people are reluctant to study blockchain knowledge seriously, and they are keen to study various tricks. Then, because industry governance is just beginning, Bitcoin will continue to fall; but in the long run, it is a good thing for the bitcoin and blockchain industries.