It's confirmed! China transfers Bitcoin, and may recognize the legal status of Bitcoin in the future!
All signs indicate that China is ready to completely change the legal status of Bitcoin in China this year, and promote a new round of hot market in the Bitcoin market!
On August 9, according to CoinTelegraph, the Chinese government wallet recently transferred about 89,533 Bitcoins on a large scale, worth nearly $4.9 billion, which quickly ignited the market's buying enthusiasm. At the same time, the wallets associated with PlusToken controlled by China are also transferring $450 million worth of Ethereum. Although the actual transfer amount is small, it still triggered widespread discussion.
PlusToken was once one of the largest cryptocurrency Ponzi schemes in China, with a total amount of up to $2.9 billion involved. Many Bitcoins and Ethereums were confiscated by Chinese police at the time. The government did not disclose the specific amount of cryptocurrency. The handling of this part of the funds has become the focus of the outside world. It may be used for treasury reserves or sold on the market.
In Bitcoin mining, Reuters sources revealed that China may follow Russia's practice and gradually open up Bitcoin mining business, and even recognize Bitcoin and use Bitcoin as foreign exchange reserves. It is reported that the Chinese government is planning to issue mining licenses, mainly to central enterprises and state-owned enterprises with connections. These enterprises have actually started bitcoin mining in secret and will further expand their business in the future.
In addition, in order to avoid electricity waste and promote local economic development, last year, some local governments have begun to invite bitcoin miners to use excess electricity resources and specially approve "mining licenses" to allow miners to purchase government electricity. In return, the government will use heat energy for free.
With the gradual relaxation of policies, coupled with the active and extensive participation of enterprises such as Tencent and Alibaba in the development of blockchain, the price of bitcoin is expected to rise sharply.
China may publicly recognize the legal status of bitcoin and allow mining. Against this background, the bitcoin market has undoubtedly ushered in a new outbreak point. For far-sighted investors, and at a time when the price of bitcoin is low, this is an excellent opportunity to buy at the bottom and should not be missed.
Follow me, the coin circle hoe, to help you dig deep into wealth!
So do you think China will officially recognize the legal status of Bitcoin this year? How much will Bitcoin increase by then?
