Ki Young Ju, Cryptoquant’s CEO and founder, said the Chinese authorities have already settled a large number of BTCs that were originally associated with Plustoken fraud. Mr. Chu posted to X (formerly Twitter) on January 23 and stated:
“China has already sold 194,000 bitcoin. The BTC, which was seized by PLUSTOKEN in 2019, was sent to Chinese exchanges such as Huobi. The Chinese Communist Party did not know if it was sold and said,” In the national treasury. It was transferred. ” It seems that the possibility that censorship governments will hold the funds to withstand censorship. “
He explained in more detail about the possibility of the fate of Bitcoin, saying, “The BTC seized by the Plustoken fraud was sent to the exchange in 2019. There is no point in using the exchange.
These statements suggest that the debate continues to be confiscated by the Chinese authorities in 2019. The government publicly announced that digital assets were “transferred to the national treasury,” but there was no clear explanation of whether bitcoin was “transferred to the national treasury.” It has been retained or sold. However, according to Ki Yong -ju, evidence suggests that a large off -road may have been held on a local exchange.
Back story of Bitcoinplastoken
PLUSTOKEN’s episode itself is one of the most prominent examples of illegal cryptocurrency activities that affect market mechanics. In the early stages of 2019, Plustoken accumulated a huge amount of bitcoin. The on -the -ene analyst presumed that it was between 1% and 2% of the entire BTC at the time.
The plan seemed to have led to an growing human demand and contributed to the price of bitcoin to nearly $ 3,000 to nearly $ 14,000. Observators pointed out that while the incident occurred, the investigators identified the suspicious BTC flow to move the Plustoken -related address and had questions about market operations.
According to KI Young Ju’s screenshot, the price increased by 300% in the first and second quarters of 2019. This soaring is partially recruited by Plustoken for unusual investors, resulting in an artificial pressure on bitcoin.
On the other hand, institutional support for cryptocurrencies has been increasing, as represented by Fidelity’s expansion of storage services. As PLUSTOKEN accumulates a large amount of bitcoin, the market dominance has become increasingly concerned about analysts who have recognized a large -scale fallen threat.
As shown in the statements and guidelines of SEC, CFTC, Fincen, and other institutions, in the third and fourth quarters of 2019, global regulations on cryptocien assets became more prominent. 。 At the same time, the launch of a physically settled bitcoin futures, especially Bakkt, has created a new way for institutional introduction.
However, the biggest on -fin story during this period has been developed mainly in the second stage of PLUSTOKEN Saga. At this time, the BTC reserve of about 171,000 coins, which reached the peak, began to move on a large number of exchanges in July 2019.
Observators believe that tens of thousands of BTCs have been sold to the market, so these reserves have been rapidly decreased, and as a result, the price has been retraced from nearly $ 14,000 to mid -6,000 units by the end of the year. I was. In fact, this is a wide -ranging decline, which has become one of the most notable “indirect dynamic attacks” for bitcoin.
At the time of this writing, BTC was traded for $ 103,111.
Bitcoin Price, 4 Hours Chart | Source: TradingView.com BTCUSDT
A notable image created in Dall.e, the chart of TradingView.com
