Financial commentator Peter Schiff has it It is listed It was “probably” that the Chinese government sold Bitcoin Holdings in January.
This comes after Sen. Cynthia Ramis’ statement about the potential “arms race” for Bitcoin between the US and China recently reappeared on social media. She predicted that the two superpowers could begin to compete to own more Bitcoin.
However, according to Schiff, known for his caustic anti-Bitcoin comments, China is not interested in such races. He said major cryptocurrency supporters are looking to boost prices by referring to old comments.
“China is laughing at us by buying bitcoin. We are buying digital Fools Gold while they buy the real thing,” Schiff said.
In late January, Ki Young Ju, founder and CEO of Crypto Analytics Firm Cryptoquant, said China had sold 194,000 BTC. Tokens seized from the Plustoken Scam in 2019 were mixed and sent to various exchanges. According to JU, it is unlikely that the Chinese government still owns these coins.
According to data provided by the Bitcoin Treasuries platform, China should be Bitcoin’s second largest government owner (just behind the US).
As reported by U.Today, the US established a strategic Bitcoin Reserve earlier this month with a major victory for the Crypto industry. However, instead of purchasing new coins, the reserve will only hold confiscated coins (at least for now).
Other major economies are not in a hurry to follow suit as countries like Japan and South Korea have expressed Skepticism Toward diversifying reserves with Bitcoin.
