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Analysts Demand Evidence on Claims of China’s Bitcoin Holdings

Skepticism About Bitcoin Ownership Claims: Analysts express skepticism regarding claims that China owns 194,000 Bitcoins. Recent conversations highlight the need for HARD evidence, as past data may not accurately reflect ongoing ownership trends in the cryptocurrency market.

Governments Hold 2.2% of Total Bitcoin Supply: A July 2024 report found that governments collectively hold around 2.2% of Bitcoin, primarily obtained through asset seizures. The United States government alone possesses 213,297 BTC, suggesting a strategic accumulation of digital currencies.

China’s Evolving Crypto Landscape: Despite its strict regulations on cryptocurrencies, China was an early player in the crypto market and continues to develop a national digital currency, the e-CNY. The ongoing debate over Bitcoin ownership adds complexity to China’s crypto narrative.

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