When the United States moves forward with their strategic Bitcoin reserve, speculation grow on whether China will react their own cryptographic strategy.
On March 7, US President Donald Trump signed an executive ordinance establishing a “strategic Bitcoin reserve” and “digital reserves of assets”. The reserves will be initially financed using Bitcoin (BTC) and other digital assets confiscated in government criminal matters.
Because the US is changing their attitude to BTC, China can make movements to avoid remaining behind. March 3 Bitcoin David Bailey lawyer, one of Bitcoin supporters assigned for Trump’s “orange care”, he said that China can work on their own strategy reaction to Trump’s executive ordinance.
Bailey said that the country reportedly held meetings closed in Bitcoin since the US elections in 2024, although no official confirmation was made.
Source: David Bailey
How many Bitcoins currently China have?
If China accepts the Bitcoin reserve strategy, his shares can compete with shares in the USA. The US government currently has 198.109 BTC worth over $ 17 billion.
In addition, AI of the White House and Crypto spell David Sacks said that the US will not sell Bitcoins in the reserve, but instead treat it as a long -term value warehouse. The government also intends to implement “neutral strategies for the budget” to buy more bitcoins.
China has never officially revealed their bitcoins or any sales strategies.
In 2020, the Chinese authorities occupied almost 195,000 BTC from the Plestken Ponzi program. The ruling of the People’s Court Yancheng was found that the profits from confiscated cryptographic assets were lost to the Treasury.
On January 23, the founder and general director of Cryptoquant Ki Juvenile speculated that China could already sell their BTC supplies. The manager said that it is unlikely that the country had “censorship resistant money”. He noticed, however, that it was only his personal opinion.
Related: ETF with American Bitcoin lose USD 1.14 billion in two weeks among US-China trade tensions
He said that the Chinese communist party moved coins to the National Treasury, but did not explain whether it sold coins or not.
If China still has reserves and follow the Bitcoin reserve strategy in the US, the country would be one of the largest Bitcoin owners around the world.
List of countries with bitcoin. Source: bitbo
While Beijing’s position on Bitcoin reserves remains uncertain, legislators from Hong Kong examine the potential of accepting Bitcoins as part of “One Country, Two Country” of China.
On December 30, Wu Jiexhuang, a member of the Legislative Council in Hong Kong, said that Hong Kong could investigate the impact of the Bitcoin rotary funds market in the USA. The clerk stated that Trump’s proposal to make BTC a strategic reserve resource could affect classic markets.
Warehouse: Mystery Celeb Memecoin Scam Factory, HK The company drops Bitcoin: Asia Express
