If China has not yet sold its 195,000 Bitcoin seized from the PlusToken Ponzi scheme, it could use the funds to make a reserve rivaling the US.
As the United States moves forward with its Strategic Bitcoin Reserve, speculation is growing over whether China will respond with its own national crypto strategy.
On March 7, US President Donald Trump signed an executive order establishing a “Strategic Bitcoin Reserve” and a “Digital Asset Stockpile.” The reserves will initially be funded using Bitcoin (BTC) and other digital assets seized in government criminal cases.
With the US shifting its stance on BTC, China may make moves to avoid falling behind. On March 3, Bitcoin advocate David Bailey, one of the Bitcoin supporters credited for “orange-pilling” Trump, said that China may be working on its own strategy response to Trump’s executive order.
