Outrageous! China Allegedly Sold $100K Worth of Bitcoin (BTC) in January, Says Peter Schiff

Jakarta, Pintu News – Peter Schiff’s bold claim about the Chinese government selling Bitcoin (BTC) in January has caused confusion among the crypto community. According to Schiff, China may have sold their Bitcoin (BTC) when the price was still above $100,000. This has added to speculation about whether or not China still holds the crypto asset, especially given their mysterious background in storing these digital assets.

Peter Schiff’s Claim and Market Reaction

Peter Schiff, a known Bitcoin (BTC) critic, surprised many by stating that the Chinese government may have sold all their Bitcoin (BTC) in January. Schiff responded to a post on X (formerly Twitter) by saying that there is no evidence to suggest that China still has the Bitcoin (BTC).

This speculation comes after reports that China may have sold nearly $20 billion worth of Bitcoin (BTC) that they seized from the PlusToken Ponzi scheme in 2019. According to CryptoQuant CEO Ki Young Ju, the assets have been disbursed through exchanges such as Huobi. Although Chinese authorities have previously claimed that the seized crypto has been transferred to the state treasury, they have never made it clear whether the assets were sold or kept, which adds to speculation about the scale of the liquidation and its impact on the market.

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Major Countries’ Position on Bitcoin (BTC)

Although Bitcoin (BTC) is gaining prominence in global finance, many major economies are still hesitant to integrate it into their reserves. Data from Bitcoin Treasuries shows that China has the second-largest government Bitcoin (BTC) reserves, behind only the United States.

However, countries like Japan and South Korea remain skeptical and show little interest in diversifying their reserves with Bitcoin (BTC). Meanwhile, Bitcoin (BTC) is struggling to stay above $90,000, recently dropping 0.45% to $84,333.20 in the last 24 hours according to CoinMarketCap.

This suggests that short-term Bitcoin (BTC) holders are facing unrealized losses, marking a pivotal moment in the market cycle. Historical trends suggest that these phases act as temporary cool-downs rather than long-term reversals.

Impact and Future Outlook of Bitcoin (BTC)

As pressure mounts, the correction has yet to reach extreme levels. Therefore, if Bitcoin (BTC) can maintain key psychological support and macroeconomic conditions remain favorable, this dip could serve as a reset before the next bull run. This shows the importance of understanding market dynamics and the influence of government policies on the value of cryptocurrencies.

Conclusion

Peter Schiff’s claim of massive Chinese selling of Bitcoin (BTC) highlights the importance of transparency and regulation in the crypto market. While there are still many uncertainties, a deeper understanding of government policies and strategies can provide valuable insights for investors and market analysts.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• Ambcrypto. Bitcoin: China sold BTC worth $100k in January, claims Peter Schiff; here’s why. Accessed on March 25, 2025
• Featured Image: Bitcoin News