The Chinese government currently has more Bitcoin holdings than MicroStrategy as a result of the funds it seized from the PlusToken Ponzi scheme. The Chinese government holds more Bitcoin than MicroStrategy after it seized 194,775 BTC during the infamous PlusToken scam. The total value of the Bitcoin holdings is about $3.9 billion. In addition to the Bitcoin, the government also seized 833,083 ETH, 1.4 million LTC, 27.6 million EOS, 74,167 DASH, 487 million XRP, 6 billion DOGE, 79,581 BCH, and 213,724 USDT. In total, the government has crypto assets worth over $5 billion. China’s Bitcoin Holdings Top Even MicroStrategy This […]

Reading Time: 2 minutes Chinese Bitcoin mining activity has surged in 2022 Bitcoin mining activity in the country has rebounded to account for over 20% of the global hashrate Some Chinese miners have been using VPNs to hide their location since the May 2021 ban Chinese Bitcoin miners may have officially been banned from operating in the country, but this doesn’t seem to have stopped them. Recent data from the Cambridge Centre for Alternative Finance (CCAF) published Tuesday showed that Bitcoin mining originating from China had enjoyed a huge resurgence, accounting for 21.11% of today’s Bitcoin hash rate. CCAF suggested […]