China's Treasury sold approximately 194,000 bitcoins for $19.7 billion. This news was shared by CryptoQuant founder and CEO Ki Young Ju.

PlusToken Bitcoin Reserves Analysis

He specified that we are talking about $4.2 billion worth of bitcoins seized in 2019 from crypto wallets associated with the PlusToken financial pyramid. At the same time, 109 people were arrested on charges of fraud.

Despite the massive sell-off of bitcoins by the Chinese authorities, the rate of the flagship cryptocurrency has not suffered. Over the past 24 hours, BTC has added 0.7% to its value and was trading around $105,000 on the evening of January 23.

Experts attribute Bitcoin's resilience to ongoing purchases by major companies, including asset manager BlackRock. A few days ago, its IBIT exchange-traded fund bought $600 million worth of BTC.

The leading cryptocurrency quickly reacts to all news related to cryptocurrency regulation in the US. For example, on January 23, Bitcoin jumped to $106,000 after Senator Cynthia Lummis promised to release “big news”.
In addition, at the Davos Economic Forum, Donald Trump promised to make the US a center for artificial intelligence and cryptocurrencies.