Ju Ki-young: "19,4000 BTC Seized by Chinese Government Likely Already Sold"

There is speculation that the 194,000 Bitcoin (BTC) seized by the Chinese government from the PlusToken pyramid scheme may have already been sold.

On the 22nd (local time), Ju Ki-young, CEO of CryptoQuant, stated on X, "The Chinese government has likely already sold the 194,000 BTC," adding, "It is unlikely that a regime favoring censorship would hold Bitcoin, which aims for decentralization."

He noted, "The Bitcoin seized from PlusToken was transferred to cryptocurrency exchanges within China," and "The Chinese Communist Party announced that the assets were transferred to the national treasury, but did not specifically mention whether they were sold."

Meanwhile, PlusToken is a Chinese cryptocurrency pyramid scheme that victimized over 2.6 million people. In 2019, China seized Bitcoin, Ethereum (ETH), and other assets worth $14 billion from PlusToken.