The Chinese government currently holds more bitcoins than MicroStrategy, thanks to funds seized in the Ponzi scheme PlusToken.
The world’s first owner of bitcoins is a sovereign state. And it’s not just anyone, it’s China. Funny for a country that has banned the use and mining of bitcoin.
But indeed, the Chinese Treasury is the first holder of the queen of cryptocurrencies, with a total of 194,775 bitcoins in these accounts, or 1% of the bitcoins in circulation in the world. And that’s not all, the country also holds 833,000 ethers and two or three other cryptocurrencies. It’s all stemming from the escrow of those assets after a giant scam case was settled.
$5 billion
“The Chinese government currently holds more bitcoins than MicroStrategy, thanks to funds seized from the Ponzi scheme PlusToken. The Chinese government holds more bitcoins than MicroStrategy after seizing 194,775 bitcoins in the infamous PlusToken scam,” an article by BeInCrypto.
Consequently, China holds a little more than 5 billion dollars of cryptocurrencies in its accounts and becomes in fact a whale, these famous “Big Whales” which, because of the importance of their positions, in fact control the flow of market.
Until then, the largest holder of bitcoins only was the software publisher MicroStrategy, which had made it a kind of money supply to establish a new business model, based on crypto exchanges, with 130,000 bitcoins in total. Several well-known investment funds in the crypto industry, Galaxy, Voyager, Marathon, not to mention Tesla of course, which still holds just over 10,000.
But just as China is still a key issue for all markets, it is becoming a key player in the analysis of the Bitcoin market and the management of this crypto war chest could weigh heavily in the future in the future. bitcoin market dynamics.