- The Chinese government holds more BTC than MicroStrategy.
- If China sells its holdings, the price of BTC and the entire market will be affected.
- It is believed that the selloff during the Ponzi scheme caused the market and BTC to suffer.
After seizing 194,775 BTC during the infamous PlusToken scam, the Chinese government owns more Bitcoin than MicroStrategy.
About $3.9 billion is the total market value of the BTC held by the Chinese Government, which is 1% of the total Bitcoin holdings.
In a Twitter thread on Wednesday, Ki Young Ju, the CEO of CryptoQuant, revealed a little-known fact that the Chinese government possesses more Bitcoin than Michael Saylor’s MicroStrategy which is one of the world’s largest Bitcoin whales.
FUN FACT: Government of China