Ki Joung Yu, founder and CEO of Cryptoquant, asserts that China may have already liquidated its Bitcoin reserves back in 2019, despite widespread belief that the nation still holds 194,000 BTC. He emphasizes the lack of confirmation from the Chinese government regarding any such sale.
According to Yu, the use of mixers for seized Bitcoin from a Ponzi scheme in 2019 indicates a probable sale. He notes that other industry figures, like Sani of Time Chain Index, have also challenged the idea that China still possesses any Bitcoin.