New evidence suggests that China could have sold all 194,000 Bitcoin (BTC) that it has as a reserve after confiscating the money that was in the hands of the Ponzi Plustoken scheme, in 2019.
According to data ON-CHAINanalyzed by the CEO of the firm Cryptoquant, Ki Young Ju, the funds would have mobilized that same year, although the Chinese government never officially informed about transactions and the possible sale of holdings. In that sense, he points out that cryptocurrency mixers and centralized exchanges were used, such as Huobi, to get rid of Bitcoin.
Such as Point out in x Ki Young Ju, the Chinese communist partico (PCCH) has only said that the funds were “transferred to the National Treasury”, without clarifying whether they were sold. In its publication, the manager provided A detailed breakdown of chain data.
«The PCCH has not confirmed a sale, so people still talk about the 194,000 BTC. But the data ON-CHAIN They tell a different story: they sold everything. I trust ON-CHAINNot on the PCCH, ”said Young.
This statement is backed by data from Valkyrie Researchwhich show that the China reserve began to decrease rapidly between August and December 2019. At the end of that year, they had fallen below 50,000 BTC.
When China seized the 194,000 BTC, the market value was approximately 4,000 million dollars. Today, the treasure in Bitcoin would be worth the amazing sum of almost 20,000 million dollars. According to Young, “it seems unlikely that a censored regime has censorship resistant money.”
As Cryptonoticias has reported, the Chinese government established a prohibition Bitcoin in 2021. Despite this, the fact that the authorities maintained the BTC reserve and will be located among the main whales of the market has always been highlighted.
If the sale of the BTC in China is confirmed, the United States would continue to be the country with the greatest amount of Bitcoin in the world, but without the competition of the Asian country. According to platform data Buy Bitcoin Worldwidethe second place of governments with BTC would be occupied by the United Kingdom.