"The Chinese government holds 194,000 bitcoins for sale" is a misunderstanding, most of them have been sold through Huobi

According to TechFlow, Wu said that a table of bitcoins held by governments has been widely circulated recently, which stated that the Chinese government holds 194,000 bitcoins from PlusToken. According to previous investigations, this statement is wrong. After communicating with many OTC merchants, a large part of these bitcoins were sold from the end of 2019 to the middle of 2020, when the BTC price was between $7,000 and $12,000. The "funds and proceeds obtained shall be confiscated according to law and turned over to the state treasury" in the verdict also confirms this statement to some extent. On-chain data also shows that most of the bitcoins have already been sold through Huobi.