🤖China’s Bitcoin Holding Poses Major Market Threat🇨🇳📈
🪙Total Holding
The Chinese government recently seized 190,000 Bitcoin, 830,000 Ethereum, and 27.24 million EOS coins from the PlusToken pyramid scheme. This scheme, orchestrated by Chen Bo, Ding Zanqing, and Peng Yixuan, defrauded numerous investors. The confiscated assets, earmarked for the state treasury, have sparked concerns about their potential impact if released into the market.
📊Market Implications:
The German government has been selling a portion of its 50,000 BTC stash, which was originally seized from Movie2k.to operators. These sales have contributed to increased market pressure. With China’s even larger holdings now in the spotlight, there is a significant concern about the potential for further selloffs exacerbating market volatility.
Recently, the German government offloaded nearly 20,000+ BTC through various exchanges and still holds a substantial amount. If the Chinese government decides to follow suit and sell their seized Bitcoin, the cryptocurrency market could experience sustained selling pressure and increased volatility.
📝Follow for more details and information. Like and share. Thank you.
