Rumour that China sold its Bitcoin stash keeps growing

Crypto enthusiasts and Peter Schiff (one of the most famous gold enthusiasts in the world) have been trolling each other for years. Usually we get a good laugh out of it and don’t think about what Peter says for another second. However, when he reminded his followers this Saturday that China probably sold all its Bitcoins in January for a price above $100,000 and is now laughing up its sleeve, we couldn’t help but wonder: what if he’s right?

Actually, it’s likely the Chinese government already sold that Bitcoin in January, above $100k. What makes you think they still own it.

— Peter Schiff (@PeterSchiff) March 22, 2025

Ni Zha 2

China’s growing power is increasingly evident in cultural events. If you were to search for the highest grossing film of the year at the end of March 2025, you would normally expect to see the Hollywood production ‘Captain America’ ranked as number one.

That is not the case. The Chinese animated film called Ni Zha 2 has now grossed almost 2 billion dollars and is well on its way to become the biggest box office hit of all time in terms of ticket sales. The film is virtually unknown in Europe and the United States. 99% of all tickets were sold in China.

Stash

Given the size of its population, China does what it wants and has long since stopped needing the West to post these kinds of records. It seems that this also applies to their Bitcoin decisions. According to global data on Bitcoin reserves by country, the government in Beijing has the second largest Bitcoin stash among countries, with a volume that can compete with the United States (China has around 194,000 Bitcoins).

However, in January of this year, it was already suggested by Ki Young Ji, CEO of Cryptoquant, that China had sold all its Bitcoins and that this would mean that the price will drop.

Two months later, with a Bitcoin price that is finding it increasingly difficult to go up, we are starting to wonder if he was right.