{"id":147503,"date":"2025-01-24T22:00:33","date_gmt":"2025-01-24T20:00:33","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=147503"},"modified":"2025-01-24T15:21:59","modified_gmt":"2025-01-24T13:21:59","slug":"china-likely-sold-massive-bitcoin-reserves-claims-cryptoquant-ceo","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/china-likely-sold-massive-bitcoin-reserves-claims-cryptoquant-ceo\/","title":{"rendered":"China Likely Sold Massive Bitcoin Reserves, Claims CryptoQuant CEO"},"content":{"rendered":"<p>Ju <strong><a href=\"https:\/\/x.com\/ki_young_ju\/status\/1882328830649799039\">claimed<\/a> <\/strong>that 194,000 <strong><a href=\"https:\/\/cryptodnes.bg\/en\/cryptocurrency\/bitcoin\/\">BTC<\/a><\/strong>, seized in 2019, were likely sold through Chinese exchanges like Huobi, despite official statements saying the funds were &#8220;transferred to the national treasury.&#8221; He argued that the use of mixers and multiple exchanges points to a large-scale sell-off rather than long-term custody.<\/p>\n<p>The PlusToken scam, which unraveled in 2019, involved fraudsters amassing between 1% and 2% of Bitcoin&#8217;s circulating supply, creating artificial buying pressure that drove BTC from $3,000 to nearly $14,000.<\/p>\n<p>Following the bust, large volumes of Bitcoin linked to the scheme were moved to exchanges, triggering suspicions of a coordinated sell-off. Analysts believe these sales contributed to a sharp market correction, pulling Bitcoin\u2019s price down to the $6,000 range by late 2019.<\/p>\n<style>\n    .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n    <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/semler-scientific-seeks-75m-to-support-bitcoin-initiatives\/\" title=\"Semler Scientific Seeks $75M to Support Bitcoin Initiatives\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/bitcoin-research-240x170.jpg\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">Semler Scientific Seeks $75M to Support Bitcoin Initiatives<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<p>Ju\u2019s analysis sheds light on how the massive liquidation may have been executed, describing it as an &#8220;indirect liquidity attack&#8221; that highlighted Bitcoin\u2019s vulnerability to concentrated selling pressure.<\/p>\n<p>At the same time, 2019 marked a turning point for institutional adoption, with major players like Fidelity entering the crypto space and Bakkt launching regulated Bitcoin futures. Despite these advances, the PlusToken saga revealed the risks posed by large-scale illicit operations to market stability.<\/p>\n<p>The fate of the seized Bitcoin, whether sold or held, continues to spark debate, but Ju\u2019s insights suggest that its impact on the market was both immediate and significant, leaving a lasting legacy on Bitcoin\u2019s price dynamics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>CryptoQuant CEO Ki Young Ju has suggested that Chinese authorities quietly liquidated a substantial stash of Bitcoin linked to the notorious PlusToken scam.<\/p>\n","protected":false},"author":9,"featured_media":31236,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[27],"tags":[],"class_list":["post-147503","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin"],"acf":[],"yoast_head":"<!-- This site is optimized with the 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