Xiaomi Disapproves Itself From Portugal Store BTC Payments

Xiaomi Disapproves Itself From Portugal Store BTC Payments

This global Chinese smartphone manufacturer needs no formal introduction as it is popular all over the world. Being the largest Chinese smartphone manufacturer, Xiaomi has recently struck upon big speculation. This is in regards to Xiaomi accepting Bitcoin (BTC) as payments along with a handful of other cryptocurrencies.

The Speculation

Xiaomi is a well-established global smartphone manufacturer. Owing to the fact it is predominantly present in all parts of the world, one of its stores in Portugal recently posted an advertisement on Facebook. 

Accordingly, the advertisement depicted that the store now accepts payments in the form of Bitcoin (BTC) as well as other cryptocurrencies. This advertisement took on fire upon the whole crypto industry and the Chinese market too.

In spite of this advertisement, numerous speculations were put forth and rumors spread like fire throughout. In contradiction, it’s a well-known fact that Xiaomi is a firm based in China and the fact that China’s recent cryptocurrency crackdown urged many to raise concerns about this advertisement.

Xiaomi’s Answers

In spite of all these speculations spreading, Xiaomi came forth and clarified the issue officially on the Portugal store’s advertisement. Accordingly, Xiaomi states that the particular MI store of Portugal which published the advertisement is a third-party store.

Furthermore, Xiaomi clarifies that the company has nothing to do with the third-party store putting out such advertisements. 

Besides, they went on to state that this particular MI store of Portugal is authorized under Xiaomi Portugal. Also, this store operates locally in the area and has nothing to do with the Xiaomi company and its firm. 

However, Xiaomi has clearly stated that they are not accepting any sort of crypto payments for their products. 

Xiaomi’s Crypto Personals

In spite of putting forth intensively that they don’t accept crypto payments, Xiaomi’s statement proves evidently that they do not want to indulge themselves in the recent crypto-China war, the Chinese crypto crackdown.

 Also, they do not want to associate themselves in any sort of relations with the crypto industry, owing to the fact they are themselves based in China.

On the contrary, the CEO of Xiaomi, Lei Jun is said to be a crypto holder and investor. In addition, he has invested in many large crypto firms like OKCoin, Conflux, and Certik.

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A Project Engineer by profession, a writer by passion. Especially into the critics and skeptics on cryptocurrency. His fascination towards the crypto world and his personal experience on it has made him a writer with a taste.