Shanghai Court Now Sees Bitcoin as Special and Unique
Shanghai Court labels Bitcoin as a unique digital treasure. Justin Sun shares this, as his own crypto wealth sees a big jump in just a month
Justin Sun, the founder of Tron network, shared big news on social media. He said that the Shanghai No. 2 Intermediate People’s Court has now seen Bitcoin as a special digital money. This is because Bitcoin is rare and has real value, unlike other virtual monies like Q coins.
Sun mentioned, “This Shanghai Court knows that as the internet grows, digital monies like Bitcoin become special and can't be copied. It is different from others like Q coins. Because it is rare, it is like real property in both everyday life and money matters.”
Even though China doesn't allow Bitcoin activities, their courts think differently. In 2022, a lawyer said that Chinese law might help people with crypto if it's stolen, even with the national ban. A Shanghai court in May 2022 called Bitcoin "virtual property", giving it more legal protection in China.
Also, there's interesting news about Justin Sun himself. In just one month, the value of his crypto portfolio grew by more than 50%. On August 19, he had $733 million, but by September 19, it jumped to over $1.1 billion. His largest crypto is Wrapped Staked Ethereum (WSTETH), valued at $315 million. This shows how much the value of crypto can change quickly.
