New: 🇨🇳 China quietly holds 194,000 Bitcoins despite cryptocurrency ban 😳🧊*
Yes, you read that right - even after banning cryptocurrencies several times and cracking down on exchanges and mining companies, *China still holds 194,000 Bitcoins*, worth *billions* at today’s prices. Crazy, isn’t it? 🤯
Let's start analyzing this...
In 2019 and 2020, *Chinese authorities seized large amounts of Bitcoin and other cryptocurrencies* from Ponzi schemes and illegal platforms like *PlusToken*. Instead of putting these coins on the open market, they held onto them - and today, these coins are still in the hands of China 🧳.
At today’s prices, this stash is worth over *5 billion*. That’s more than most public companies hold in Bitcoin - and even more than some countries 👀. For a country that "banned" cryptocurrencies, it seems China believes in the idea of "holding".
What’s surprising is... while retail investors in China are barred from accessing official trading platforms, the government quietly holds one of the largest Bitcoin reserves in the world 🐳
*The significance of this is:*
This raises an important question: if China really believed that cryptocurrencies were worthless, wouldn’t they have disposed of them years ago? Instead, they hold onto them, perhaps waiting for prices to rise or a more favorable regulatory climate.
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