The price of the Xiaomi share held up well this trading week compared to many other Chinese tech and internet stocks. Only an announcement that an MI store would also accept crypto currencies as a means of payment caused some excitement recently. There is now a clarification on this.
The MI Store Portugal had placed a Facebook advertisement, according to which it will be possible to pay with Bitcoin and other cryptocurrencies in the future.
As is well known, China has clearly positioned itself against Bitcoin. As a Chinese technology company, Xiaomi could therefore not afford to rely on cryptocoins as a means of payment.
The resolution: The MI Store in question is an authorized dealer, but operates independently from Xiaomi. Both the MI Store and Xiaomi have made that clear in the meantime.