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And they did so in a way that Satoshi Nakamoto, whose real identity remains unknown, could not have imagined a decade ago. Around the time the world was convulsing through the GFC, Nakamoto published an article titled Bitcoin - A Peer-to-Peer Electronic Cash System. The article introduced the concept of an electronic payment system free of any credit intermediary.

Analysts also cited the bigger-than-expected liquidity injection by the People's Bank of China, the central bank, on Monday as a key driver of the rally, as the move dispelled concerns that the PBOC is rolling back support for the real economy.

Analysts said the campaign is more geared toward gaining a larger share in the thriving mobile payment landscape in China and beyond borders, where competition is intensifying between Alipay and WeChat Pay, a rival service from Tencent Holdings Ltd.

And the pavilions joined hands with China's e-commerce giants, such as Suning and JD.com, he added.

Analysts added that Xiaomi is the only top-five vendor that is focused on low-price smartphones, with some below 1,000 yuan (0).