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Peter Schiff Claims China Has Sold Its Bitcoin
Bitcoin analyst and renowned skeptic Peter Schiff has made a bold claim regarding the Chinese government’s alleged actions with its massive stash of Bitcoin (BTC). According to Schiff, it is highly unlikely that the Chinese government still owns any significant amount of cryptocurrency. He based his conclusion on data from the Bitcoin Treasuries platform.
Schiff pointed out that in 2021, it was reported that China had sold a staggering 194,000 Bitcoins. These coins were originally seized as part of an investigation into the PlusToken scam. The authorities mixed and sent these tokens to various exchanges. It is highly improbable that the Chinese government would still retain control over such a significant portion of the digital asset.
As per the data provided by Bitcoin Treasuries, China should be the second-largest holder of Bitcoin after the United States. However, considering the earlier sale and the subsequent mixing of coins, it seems unlikely that they are maintaining their position.
Schiff emphasized that China’s reported sale and the likely dispersion of those coins render their current supposed holdings highly improbable.
Source: https://u.today/peter-schiff-claims-china-has-sold-its-bitcoin
