Loading cryptocurrency prices...

China has become one of the biggest Bitcoin “whales”

Chinese authorities seized 194,000 BTC, 833,000 ETH and more from the PlusToken scam in 2019. On the other hand, MicroStrategy has 130 thousand BTC.

The Chinese government is becoming one of the world’s biggest “whales”, as it has come into possession of more Bitcoin than MicroStrategy holds.

- Advertisement -

According to the head of Korean analytics firm CryptoQuant, Ki Young Ju, the Chinese government leads the ranking of the world’s most influential bitcoin whales. Its BTC reserves are almost 1.5 times higher than the reserves of Michael Saylor’s MicroStrategy company.

Chinese authorities seized 194,000 BTC, 833,000 ETH and more from the PlusToken scam in 2019. On the other hand, MicroStrategy has 130 thousand BTC.

According to the head of CryptoQuant, the Chinese government exercises strict control over cryptocurrency markets. For example, it can hold BTC to diversify the government portfolio or reject cryptocurrency assets to destroy cryptocurrency markets.

Ki Yong Joo said these are not the only Chinese holdings of digital cryptocurrency assets that have seen the light of day.

- Advertisement -

Previous Articles:

- Advertisement -

Latest News

Kyrgyzstan Launches KGST Stablecoin, Plans Digital Som CBDC

Kyrgyzstan launched a new stablecoin pegged 1:1 to its national currency.The stablecoin, named KGST,...

Trump Nominates SEC Lawyer Mike Selig to Lead CFTC Amid Crypto Push

President Donald Trump nominated Mike Selig to lead the U.S. Commodity Futures Trading Commission...

Cardano Drops 20% in 30 Days, What Could Trigger ADA’s Recovery?

Cardano ADA's price has dropped about 20% in the past month, currently trading near...

Valthos Raises $30M to Use AI for Rapid Biodefense Response

Valthos launched with $30 million in funding from the OpenAI Startup Fund, Lux Capital,...

$34 Billion Base Token and Declining DEX Risk May Lift Coinbase Shares – DL News

A new token for Coinbase’s Base Blockchain could be valued up to $34 billion.Coinbase...
- Advertisement -

Must Read

Are Cryptocurrency Securities?

TL;DR - Cryptocurrencies are not typically considered securities, as they are decentralized digital assets that operate independently of any central authority or government. However,...