The case for Bitcoin strengthens as Chinese bank depositors riot over frozen accounts

Social media footage shows crowds of angry people in Zhengzhou, the largest city in Henan province , protesting the freezing of accounts by some rural banks. Local media reported that the deposits held by affected banks could be worth up to $1.5 billion. Some observers point out that self-custody of assets takes away control from banks. For example, commenting on video footage of the protests, one Twitter user wrote, "More future Bitcoiners being orange pilled." Reuters reported that the banks involved are being investigated for "illegal fundraising." But bigger, more macro issues are also in play. Chinese banking system showing…