CandleFocus China rumored to actively work on strategic Bitcoin reserve
2025-03-03
Author: Content Editor
China is reportedly working on establishing a strategic Bitcoin reserve as part of its de-dollarization efforts. The country, which has banned domestic crypto trading and mining since 2021, aims to reduce its dependence on the US dollar and Western financial sanctions. The move aligns with China's broader initiatives such as yuan internationalization, increased gold purchases, and expanding the BRICS economic bloc. While Chinese authorities have not confirmed this, the rumor suggests that China wants a decentralized, non-sovereign store of value. This strategy contrasts with China's reported Bitcoin sales in January, where it sold 194,000 BTC seized from the PlusToken scam. In comparison, the US currently leads in Bitcoin holdings, with over 198,000 BTC valued at around $18 billion. US lawmakers are also advancing Bitcoin adoption efforts at the state level, and the Trump administration is considering a national digital asset stockpile that may include Bitcoin and Ethereum.
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