According to Wu Shuo's report on DeepChao TechFlow, a table about the holdings of Bitcoin by various governments has been widely circulated. It claims that the Chinese government holds 194,000 Bitcoin from PlusToken. However, previous investigations have shown that this claim is false. After communicating with multiple OTC traders, it was found that a large portion of these Bitcoin were sold between the end of 2019 and mid-2020, when the BTC price ranged from $7,000 to $12,000. The phrase "confiscate the funds and profits and turn them over to the national treasury in accordance with the law" in the judgment document also confirms this to some extent. On-chain data also shows that the vast majority of Bitcoin has already been sold through Huobi.
"The Chinese government holds 194,000 bitcoins for sale" is a misunderstanding, most of them have be
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