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Shuli Ren

Moutai Is for Drinking, Not Stir-Frying

When demand runs dry, everyone heads for the exit.
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Photographer: Greg Elms/Getty Images

Kweichow Moutai Co.'s liquor may make a better store of value than bitcoin.

Whereas holding the cryptocurrency is a bit like taking a roller coaster ride, the price of the Chinese company's baijiu has done nothing but rise. Moutai on Tuesday increased the retail cost of its core offering to 1,499 yuan ($230) for a 500mL bottle, but good luck finding it. I tried JD.com Inc.'s site and had more than 200,000 other hopefuls ahead of me.