Is Chinese Government a Crypto Whale?

Ki Young Ju, Co-founder & CEO of Cryptoquant tweeted that the Chinese government holds more Bitcoin than Michael Saylor’s MicroStrategy.

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Adding to it, Ki Young Ju said, Chinese authorities handed over 194k BTC and 833 ETH seized from the PlusToken scam in 2019.

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With that they forfeited these $6 billion-worth assets to the national treasury.

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PlusToken scam was able to steal 200k BTC from unsuspecting investors from 2018 to 2019.

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Ki Young Ju revealed that some members are still active as someone used the same mixer that sent the group 50 BTC to the exchange a week ago.

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In 2021, the Chinese government strengthen its efforts to crack down on crypto trading and mining in the country.

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At the time of writing, BTC price is $20,295.68 USD.

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