That 80% of BTC may be traded for Chinese currency is interesting for a number of reasons. Officially, the Chinese government prohibits using bitcoin within its territory, even if it (probably) heavily subsidizes two of the world's largest bitcoin miners (also located in China). But also, it poses questions about why we're seeing this kind of demand and what opportunities there are to leverage it.
Goldman Sachs reveals that 80 per cent of Bitcoin exchange volume is now driven by the renminbi, up from about 50 per cent at the start of 2014. Its widespread usage is particularly interesting because China clamps down on traditional currency exchange via capital control measures. Despite China's efforts to ban banks from handling Bitcoin transactions, Bitcoin gained currency in China last year as the renminbi suffered its first annual fall against the US dollar in two decades. This suggests more and more Chinese are evading capital controls and using the virtual currency to exchange cash, as the economy slows and the outlook worsens.