CryptoFinance & Economy

[NEWS] Chinese government to sell Bitcoin holdings worth 3 trillion yen

2025/01/24 11:43 (Updated 2025/01/24 17:12)
Editors of Iolite
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[NEWS] Chinese government to sell Bitcoin holdings worth 3 trillion yen

China's actions go against global trends

It has emerged that the Chinese government may have sold 194,000 BTC that it holds. On the 23rd, Ki Young Ju of the blockchain analysis platform CryptoQuant pointed this out.

According to Ki, it is highly likely that the Chinese government sold Bitcoin (BTC) that it seized from the large-scale Ponzi scheme PlusToken in 2019. This amounted to 194,000 BTC, which is equivalent to about $20 billion (about 3.124 trillion yen) at the time of writing.

Ki analyzed that these Bitcoins were sent to Chinese cryptocurrency (virtual currency) exchanges such as Huobi. The Chinese government explained that the Bitcoins were "transferred to the national treasury," but did not mention whether they were sold or not.

According to Bitcoin Treasuries, which tracks the amount of Bitcoin held by each country, the Chinese government held 194,000 BTC, second only to the US government. If the Chinese government sells the Bitcoin this time, its holdings will be zero.

The United States and other countries are accelerating their efforts to consider adopting Bitcoin as a reserve currency. Given this situation, China's move goes against the global trend.

The US is accelerating its efforts to establish a strategic national reserve for crypto assets

The differences in stance between the US and China are likely to accelerate in the future.

On the 23th, President Trump signed an executive order to establish a Presidential Working Group on Crypto Assets. This executive order includes provisions ordering the formulation of a regulatory framework for digital assets, including not only Bitcoin but also stablecoins, and an evaluation for the establishment of a strategic national reserve.

The executive order also emphasizes that the US will take a leadership role in digital assets, including crypto assets. It also includes provisions prohibiting the issuance and promotion of CBDCs (central bank digital currencies).

China has been developing a digital yuan as a CBDC for many years. On the other hand, the US will go against this movement, revealing the significant differences in US and Chinese policies here as well.

Reference: Bitcoin Treasuries
Image: Shutterstock

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MAGAZINE

Iolite Vol.14

July 2025 issueReleased on 2025/05/30
Interview Iolite FACE vol.14 Charles Hoskinson, founder and CEO of Cardano/Input Output Global PHOTO & INTERVIEW Mariko Mabuchi Special feature: "Considerations on cryptocurrency-related policies in Japan and the US", "Blockchain guide from Japan", "Huge position liquidation occurs at Hyperliquid! A new, unanticipated crisis in decentralized finance", "Sakana AI, a generative AI startup from Japan that is attracting a lot of attention", "Prepare for a recession: correlation between finance and anomalies" Crypto Journey: "Web 3.0 from the perspective of the 'King of Debate'" Interview with Hiroyuki Special series: Virtual Nishi: "Cryptocurrency market trends and key points for interpreting them" Series: Tech and Future Toshinao Sasaki, etc.