In a dramatic move that could be straight out of a spy novel, China has quietly added five tonnes of gold to its reserves in just under a month. Meanwhile, Bitcoin continues to cling to its $87,000 throne like a stubborn cat refusing to get off your lap, despite the latest market chaos.
The People’s Bank of China: Gold Rush or Panic Mode? 🏅
According to the Kobeissi Letter on X (because who needs paper when you have tweets, right?), China’s central bank has been gobbling up gold like it’s the last chocolate bar at a party. In the past month, the People’s Bank of China (PBOC) has snatched up five tonnes of the shiny stuff. This gold rush has coincided with a certain unease in the global markets, largely due to the ongoing trade tensions between the US and China. Some say the PBOC might be a little too eager to pile up gold—just in case things go south. You know, like that guy who buys 200 rolls of toilet paper before a storm. 🧻
Meanwhile, Bitcoin is holding its ground like the quiet kid in class who never gets involved in the drama. Despite the storm clouds brewing in the global economy, Bitcoin is holding steady at $87,280, shrugging off the recent market tantrums. Just four days ago, it seemed like crypto was taking a nosedive after President Trump slapped a 245% import tax on Chinese goods, but lo and behold, Bitcoin bounced back with the resilience of a superhero. 💥
BREAKING: China’s central bank increased its gold holdings by 5 tonnes in March, posting their 5th consecutive monthly purchase. 🏆
This brings China’s total gold reserves to a record 2,292 tonnes. 🏅
China’s gold stash now makes up 6.5% of its total official reserve assets… a fun fact that may or may not be an ominous sign. 🧐
— The Kobeissi Letter (@KobeissiLetter) April 20, 2025
The Whale Wallets: Bigger Than Your Mortgage 🐋💰
According to Glassnode, there’s been a surge in Bitcoin addresses with over 1,000 Bitcoin, AKA “whale wallets.” Since early March, over 60 new whales have entered the market, likely wearing sunglasses and smoking cigars while they make it rain Bitcoin.
The number of these fat Bitcoin wallets has risen from 2,030 in February to 2,100 by mid-April, the highest in four months. Clearly, big players are swooping in and buying Bitcoin as if it were the latest iPhone, despite all the market drama going on in the background. 🦈💸
Some say that Bitcoin’s newfound popularity as a hedge against inflation (not to mention gold’s competition) is a result of China steering away from US dollar-based assets. You know, just a small shift in global finance that may or may not be a sign of the apocalypse. 🌍
Gold Prices Skyrocket: Gold is on fire, hitting $3,401—an almost $100 rise in just a week. And while institutions like China continue to hoard the yellow metal, Bitcoin is also benefiting from the trend. Who knew that both gold and Bitcoin would end up being your new BFFs in times of financial chaos?
But, alas, not everything is sunshine and rainbows in Bitcoin-land. It’s reported that nearly $5 billion has left Bitcoin ETFs recently, even though the price of Bitcoin remains annoyingly stable. Apparently, someone didn’t get the memo that Bitcoin is too cool to care about ETF drama.
And as for China, well, let’s just say the rumors are as spicy as ever. Some say China’s quietly building up a Strategic Bitcoin Reserve (doesn’t that sound like something out of a Bond movie?). Yet, others report that China just dumped 15,000 BTC on offshore exchanges. Who’s right? Who knows? It’s like trying to predict the weather in April—unpredictable and always surprising. 🌧️
Despite the mixed signals and a never-ending trade war, Bitcoin continues to do its best impersonation of a rockstar. Investors are closely eyeing both gold and Bitcoin as safe havens, though whether they’re investing in a peaceful financial future or preparing for the next global meltdown is still up for debate. Either way, buckle up—things are about to get interesting. 🎢
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2025-04-21 23:13