China May Have Sold Bitcoin Worth $100K in January
The Most Important Points at a Glance
China is said to have sold Bitcoin (BTC) worth over $100,000 in January. This claim comes from Peter Schiff, a well-known critic of Bitcoin. Reports suggest that China may have liquidated Bitcoin holdings from previous seizures. At the same time, speculation is growing that the U.S. could include Bitcoin in its strategic reserves.
Did China Sell Its Bitcoin Holdings?
Peter Schiff stated in a post on X (formerly Twitter) that China may have sold its Bitcoin holdings as early as January. This statement is based on reports that the Chinese government allegedly sold Bitcoin seized from the PlusToken Ponzi scheme.
According to Ki Young Ju, CEO of CryptoQuant, around 194,000 BTC originating from the PlusToken fraud were sold through exchanges like Huobi. Officially, it was stated that the confiscated cryptocurrencies were transferred to the national budget. However, whether they were actually sold remains unclear.
U.S. Government and Bitcoin: A Strategic Move?
In the U.S., there is speculation about whether the government might include Bitcoin in its strategic reserves. Senator Cynthia Lummis sees this as a potential geopolitical challenge, particularly in competition with China. However, Bloomberg estimates the likelihood of such a move this year at only 30%.
The discussion about a government Bitcoin reserve highlights how deeply cryptocurrencies have now entered political and economic considerations. If the U.S. government were to acquire Bitcoin, it could have far-reaching effects on the market.
Global Stance on Bitcoin
While the U.S. and China are at the center of the Bitcoin debate, other major economies remain cautious. Japan and South Korea show little interest in incorporating Bitcoin into their national reserves.
You should read that too:
-
Asian Slots – The Best Asia-Themed Online Slot GamesReading time: ~ 3 minutes
-
Crash Games in Online Casinos: A Review of Games and Providers
Reading time: ~ 3 minutes
-
Anime Slots – Anime-Themed Slots
Reading time: ~ 3 minutes
-
Food and Drink Slots: The Best Slot Games Inspired by Culinary Delights
Reading time: ~ 3 minutes
-
Space Slots – Best Space-Themed Slots
Reading time: ~ 3 minutes
According to Bitcoin Treasuries, China holds the second-largest state-owned Bitcoin reserves after the U.S. If it turns out that China has sold its reserves, this could have long-term effects on the market.
Market Trends and Price Movements
Bitcoin is currently struggling with the $90,000 mark and recently fell by 0.45% to $84,333.20. Short-term investors are experiencing increasing unrealized losses. Historical data shows that such phases often serve as market corrections before a new upward trend begins.
Whether this trend continues depends on macroeconomic factors and market sentiment. If Bitcoin holds key support levels, the current correction could be a setup for the next bull run.
Our Assessment
The reports about China’s alleged Bitcoin sale raise questions. Official confirmations are lacking, but the possibility of a large-scale liquidation remains. At the same time, the discussion in the U.S. shows that Bitcoin is increasingly being considered a strategic asset.
For investors, the market remains volatile. Those investing in Bitcoin should closely monitor political and economic developments. The coming months could be crucial for Bitcoin’s future role in the global financial system.
| Symbol | BTC |
| Coin type | Alt Coin |
| Transaction Speed | Slow |
| Pros |
|
| Cons |
|
| Further practical applications | |
| Price | $87,651.00 |
| 24h % | 0.82 % |
| 7d % | 5.98 % |
| 30d % | -8.68 % |
| 60d % | -16.27 % |
| 1y % | 24.78 % |
| Market Cap | $1,739,443,176,345.00 |
| Max. Supply | 21,000,000.00 |
| Official Links | Website | Whitepaper | Source Code |
| Socials | Reddit | X | Message Board |
Advertising transparency