As the United States progresses along with the Strategic Bitcoin reserve, the speculation is growing if China responds with its own approach to national crypto.
On March 7, US president Donald Trump Signed an Executive Order Establishing a “strategic bitcoin reserve” and a “digital stockpile asset.” Reserves first to fund using Bitcoin (Btc) and other digital ownership seized in government criminal cases.
By moving the US to its stance to BTC, China can take motions to prevent fall. On March 3, Bitcoin advocate David Bailey, one of Bitcoin’s supporters credit For the “orange-selection” Trump, Says That China may be working on its own response to Trump’s executive command.
Bailey said the country has been reported to have held closed-door meetings in Bitcoin since the 2024 election in the US, despite no official confirmation.
Source: David Bailey
How many bitcoin is there in the present?
If China adopted a Bitcoin reserve approach, its holdings could compete with the US. The US government is currently holding 198,109 BTC, worth more than $ 17 billion.
In addition, White House AI and Crypto Czar David Sacks said the US would not sell Bitcoin in the reserve, but instead treat it as a long -term value store. The government also aims to implement “neutral budget techniques” to buy more bitcoin.
China has yet to officially disclose Bitcoin handles or any sales techniques.
In 2020 the Chinese authorities Took nearly 195,000 BTC From the Plustken Ponzi scheme. A decision from the Yancheng Intermediate People’s Court said the revenues from confiscated crypto assets lost its national ark.
On January 23, cryptoquant founder and CEO Ki Young Ju could have China may have Its BTC stash has already been sold. The executive said it was unlikely that the country would hold “money -resistant money.” However, he noted that this was his only personal opinion.
Related: US Bitcoin ETFS has lost $ 1.14B in two weeks amid US-China trade tensions
Ju said the Chinese Communist Party moved the coins to the national treasury but did not clarify whether it sold coins or not.
If China still holds the reserves and follows the US Bitcoin reserve strategy, the country is one of the largest Bitcoin holders in the world.
List of Bitcoin -holding countries. Source: Bitbo
While Beijing’s stance on Bitcoin reserves remains unsure, Hong Kong lawmakers are Exploration of potential for the adoption of bitcoin Within the framework of “one country, two systems” of China.
On December 30, Wu Jiexhuang, a member of the Legislative Council of Hong Kong, said Hong Kong said the impact of the funds of funds exchanged by the Bitcoin exchange in the US could study. The official said Trump’s proposal to make the BTC a strategic reserves that could affect traditional markets.
Magazine: Mystery Celeb Memecoin Scam Factory, HK Firm Dumps Bitcoin: Asia Express
