CryptoQuant: Government Share in Bitcoin Is Only 4 Percent, Sales Are Exaggerated!

CryptoQuant CEO stated that only 4% of the $224 billion entering the market since 2023 came from Bitcoins confiscated by governments.

In his statement on Twitter on July 5, Ki Young Ju, CEO of on-chain data and analysis platform CryptoQuant, made remarkable statements about the recent sales that have suppressed Bitcoin.

Ki Young Ju stated that governments' Bitcoin sales are exaggerated. According to Ju's statement, $224 billion has flowed into the crypto market since 2023, and Bitcoins seized by governments contributed only $9 billion to the total market value.

It accounts for only 4% of the total value realized, representing the total capital entering the market since 2023. Ju emphasized that governments' influence on Bitcoin is limited. Ju also stated the following:

Don't let the government selling FUD ruin your trading.

Bitcoin and other cryptocurrencies are surging amid selling pressure from the US, Germany and miners. It experienced sharp declines with the addition of Gox.

According to CoinGecko data, Bitcoin is trading at $56,700 at the time of writing.

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