As the United States gallops ahead with its grandiose Strategic Bitcoin Reserve, a delightful speculation dances in the air: will China, that enigmatic dragon, unfurl its own national crypto scroll? 🐉
On this fateful day, March 7, the illustrious President Donald Trump, with a flourish of his pen, decreed the establishment of a “Strategic Bitcoin Reserve” and a “Digital Asset Stockpile.” Ah, the reserves shall be filled with Bitcoin (BTC) and other digital treasures seized from the clutches of nefarious criminals! How noble! Or is it just a clever ruse? 🤔
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How much Bitcoin does China currently have? 🤷♂️
If China decides to don the Bitcoin crown, its holdings could rival the US’s impressive stash. Currently, the US government boasts a staggering 198,109 BTC, worth more than $17 billion. Yes, billion with a ‘B’! 💸
Moreover, the White House’s crypto czar, David Sacks, has proclaimed that the US will not part with its Bitcoin, treating it instead as a long-term treasure. A budget-neutral strategy to acquire more Bitcoin? Sounds like a plan! Or a fantasy? Who knows! 😏
China, on the other hand, has been as secretive as a cat in a room full of rocking chairs regarding its Bitcoin holdings. In 2020, authorities seized nearly 195,000 BTC from the infamous PlusToken Ponzi scheme. A court ruling declared that the profits from these confiscated assets would be tossed into the national treasury. How generous! 🎩
On January 23, the ever-curious Ki Young Ju, founder of CryptoQuant, speculated that China might have already sold its BTC stash. He mused that it’s unlikely the country would hold onto “censorship-resistant money.” But, of course, this is merely his personal opinion—take it with a grain of salt! 🧂
Ju further noted that the Chinese Communist Party transferred the coins to the national treasury, leaving us all in suspense about whether they sold them or not. The plot thickens! 📜
If China still clutches its reserves and decides to follow the US Bitcoin playbook, it could emerge as one of the largest Bitcoin holders in the world. Imagine that! 🌍
While Beijing’s position on Bitcoin reserves remains as clear as mud, Hong Kong lawmakers are busy exploring the potential for Bitcoin adoption within the “one country, two systems” framework. A delightful conundrum, indeed! 🧐
On December 30, Wu Jiexhuang, a member of Hong Kong’s Legislative Council, suggested that Hong Kong could investigate the market impact of spot Bitcoin exchange-traded funds in the US. Trump’s proposal to elevate BTC to a strategic reserve asset might just send ripples through traditional markets. Oh, the drama! 🎭
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2025-03-07 15:02