China surpasses the US and holds almost twice as much Bitcoin

• China has more Bitcoin than the US.
• China holds 194,000 Bitcoin.
• US reserve should change scenario.

Market data has revealed that China holds a larger amount of Bitcoin tokens than the United States currently holds. China currently holds almost twice as much Bitcoin as the United States.

According to a data According to the JAN3 platform, as of March 7, China holds 194,000 BTC, which at current prices is equivalent to $17,113 million, while the US holds 112,189 Bitcoin tokens worth $9,998 million. In South America, Venezuela stands out for holding 240 BTC worth $24 million.

The survey also reveals that El Salvador holds 6,089 bitcoins, equivalent to US$537 million, while the United Kingdom and Finland obtain 61,000 and 1,981 tokens, worth US$5,381 million and US$174 million, respectively.

Source: JAN3

It is worth noting that the President of the United States, Donald Trump, signed yesterday an executive order authorizing the creation of a strategic Bitcoin reserve, putting the main cryptocurrency in the spotlight in the government's digital asset policy. The announcement was made by David Sacks, nicknamed the 'Crypto Czar', who stressed that the decision to form the reserve will not impact the budget of American taxpayers. With the announcement, the amount of Bitcoins obtained by the US should increase considerably.

In a recent statement, Michael Saylor, founder and executive chairman of financial giant MicroStrategy, suggested a US purchase of a staggering one million Bitcoins for its strategic reserves. The suggestion was made during an interview with FOX Business.

Rumors Indicate That China Is Building Its Bitcoin Reserve

In a move that could alter the global balance of the cryptocurrency market, hearsay indicate that China is accelerating its efforts to establish a strategic Bitcoin reserve. This information comes at a crucial time, when the United States is also undergoing significant regulatory changes regarding cryptocurrencies.

David Bailey, CEO of BTC Inc., noted that “China is now working double time to create its own Bitcoin Strategic Reserve.” According to Bailey, since the most recent election cycle, officials in Beijing have stepped up closed-door meetings, suggesting a renewed focus on cryptocurrencies.