China’s Bitcoin Holdings: Unraveling the Facts

• Max Keiser suggests China and Russia are adding Bitcoin to their reserves.​
• China’s official stance remains restrictive towards cryptocurrency activities.​
• Speculations arise about China’s strategic interest in Bitcoin amid global financial shifts.​

China’s Cryptocurrency Stance: A Complex Landscape

China’s relationship with cryptocurrencies has been notably stringent. In 2021, the People’s Bank of China declared all cryptocurrency transactions illegal, reinforcing the nation’s firm stance against digital currencies. Despite this, discussions persist regarding China’s involvement with Bitcoin, particularly concerning its national reserves

Conflicting Reports on Bitcoin Holdings

Recent statements by Bitcoin advocate Max Keiser suggest that China, along with Russia, is incorporating Bitcoin into its strategic reserves. Keiser asserts that these nations are acquiring Bitcoin to diversify their assets and reduce reliance on the U.S. dollar. This perspective implies a proactive approach by China in embracing Bitcoin as part of its financial strategy.​

Conversely, other reports challenge this claim. In 2019, Chinese authorities seized approximately 194,775 BTC from the PlusToken Ponzi scheme. By January 2025, analyses indicated that these assets were likely sold, with the proceeds transferred to the national treasury. CryptoQuant CEO Ki Young Ju highlighted that the seized Bitcoins were moved to exchanges like Huobi, suggesting liquidation. This indicates that China may have divested its Bitcoin holdings rather than retained them.​

Official Silence and Market Implications

The Chinese government has not officially disclosed its current Bitcoin holdings or detailed any strategies regarding cryptocurrency reserves. This lack of transparency fuels speculation and leaves room for varied interpretations. The uncertainty surrounding China’s position contributes to market volatility, as investors react to unverified claims and rumors.​

Conclusion

While figures like Max Keiser suggest that China is actively acquiring Bitcoin, substantial evidence points to the contrary, indicating that China may have liquidated significant portions of its cryptocurrency holdings. The absence of official confirmation from Chinese authorities means that the true state of China’s Bitcoin reserves remains uncertain. Investors and market observers should exercise caution and rely on verified information when assessing such claims.

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