Chinese Bitcoin Holdings Now Rank Second Among Nation-states With 190,000 BTC

Key Points:

• Chinese Bitcoin holdings rank second globally with 190,000 Bitcoins, trailing behind the United States, which leads with 210,000 Bitcoins.
• Chinese cryptocurrency investors earned US$1.15 billion in 2023, marking significant gains.

Chinese Bitcoin holdings currently rank 2nd in the world, trailing behind the United States, with a stash of 190,000 Bitcoins, according to data from HODL15Capital.

Chinese Bitcoin Holdings Surge in Global Rankings

Meanwhile, the United States leads the pack with 210,000 Bitcoins, and El Salvador stands in sixth place with 5,692 Bitcoins.

A recent survey by New York-based blockchain research firm Chainalysis also revealed that Chinese cryptocurrency investors reaped substantial gains in 2023, amassing $1.15 billion. This places them fourth globally, following investors from the United States, the United Kingdom, and Vietnam.

China’s climb in rankings from previous surveys reflects the persistent interest in cryptocurrencies within the nation, despite its overarching skepticism towards digital assets.

Regulatory Caution Amid Promising Trends

China, keen on fostering a conducive environment for crypto businesses and financial giants, aims to position itself as a hub for digital finance. Despite regulatory challenges, the burgeoning adoption of Chinese Bitcoin holdings signals a promising future for the asset class on a global scale.

The early months of 2024 have seen notable price surges in major cryptocurrencies like Solana and Ethereum, with Bitcoin even surpassing its all-time high.

However, Chinese authorities urge investors to approach with caution, emphasizing the inherent risks despite recent successes. Notably, Chinese laws do not prohibit private possession or legal circulation of Bitcoin, treating it as property even though it is not recognized as legal tender.