China's government has gone out of its mandate in terms of clamping down on cryptocurrency.

That is not to say that Chinese citizens do not love cryptocurrencies and what they represent.

Joe Tsai, the executive vice-chairman of Alibaba Group, the Chinese e-commerce powerhouse, is the latest to express his sentiments on Twitter in three simple words: "I like crypto."

Tsai is also the owner of the Brooklyn Nets of the National Basketball Association. Additionally, he serves as chairman of BSE Global.

Over the last few years, cryptocurrency has garnered the adoration of some of the world's most influential businesspeople.

The decentralized nature of cryptocurrencies, as well as additional benefits such as inflation protection, are some of the reasons why prominent figures invest in Bitcoin and other cryptocurrencies.

This is not the first time Tsai has advocated for cryptocurrency. In an August conversation with Sportico's Brendan Coffey, the billionaire discussed media convergence, sports betting, and digital assets.

"We envision a convergence of media, sports betting, and cryptocurrency," Tsai said.

Tsai is frequently referred to as Jack Ma's right-hand guy. Alibaba is China's e-commerce behemoth.

Tsai is estimated to be worth about $10 billion, according to a Financial Post profile.

Alibaba is unlikely to make any significant inroads into the bitcoin market, even on a global scale.

Alibaba said in September that it will no longer sell specialized mining equipment in response to the People's Bank of China's strict policy.

Three of China's biggest tech companies, Alibaba included, inked a self-regulatory guarantee in November to keep their booming NFT marketplaces away from cryptocurrency.

They promised to engage with authorities to avoid money laundering, dissociate themselves from virtual currency, protect consumers' rights, and promote national culture as part of that vow.

The broader cryptocurrency market continues to thrive despite China's recent ban on cryptocurrency-related activities. The total bitcoin market capitalization now exceeds $2.3 trillion, proof that usage is increasing.

Following China's restriction on mining activities, the cryptocurrency mining hash rate has returned.

The hashrate of the Bitcoin network reached more than 179.5 Ehash/s earlier this month, according to statistics acquired earlier this month, which is close to the all-time record registered earlier this year.

Tsai, as a private investor, has some indirect exposure to crypto, despite Alibaba's need to stay away from it.

Kevin Durant of the Brooklyn Nets owns a piece of Coinbase. Durant's business fund Thirty-Five Ventures purchased stocks in 2017.

The NBA superstar serves as an ambassador for the team and is one of the faces of the Coinbase brand as part of the investment arrangement.