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Who are the Bitcoin Holders in China (Domestic Bitcoin Holders)

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What are the Bitcoin holders in China? Who are the Bitcoin holders? How is the p

Who are the Bitcoin Holders in China (Domestic Bitcoin Holders)

What are the Bitcoin holders in China? Who are the Bitcoin holders? How is the proportion of Bitcoin holders in China calculated? From the content below, we can see.

In our daily work and life, most people have heard about Bitcoin. In China, people know that they own digital currency, but due to the lack of basic information such as bank accounts, credit card or bank card numbers, and the government’s non-support for bank account opening, it is difficult for them to obtain any cryptographic assets as a means of savings or investment. But as time goes on, this knowledge is gradually being mastered, and more and more people are realizing that Bitcoin is a very valuable investment. Therefore, many people are interested in Bitcoin because Bitcoin has strong speculative properties and volatile prices. On May 12, 2017, a Chinese investor named Chen Guanxi (transliteration) said that he had bought and sold 10,000 Ethereum, which was about $100,000 at the time, and today he sold another 10,000 Ethereum for a total price of $1,000. This buyer believes that Bitcoin can be a good hedge choice because Bitcoin has existed for decades. Chen Guanxi also said, “I personally do not associate this behavior with stock trading.” According to him, although some institutions have even started considering including Bitcoin in their balance sheets, it does not mean that they will regard it as a legitimate market investment. He also added that if he evaluated the United States as a reliable country, he might “try to increase his income by manipulating” the Bitcoin market. “So what we see is that Bitcoin holders in China are still a relatively small group.”

In addition, “Bitcoin holders may continue to grow in the next year, but there are also factors affecting it, including the instability of the national economy, especially the economic impact during the financial crisis. First of all, due to the continuing spread of globalization, capital from many countries has entered the development stage of this field, regardless of whether it is the Federal Reserve or other major central banks, they are taking action to protect themselves from the impact of inflation. Secondly, the status of Bitcoin as one of the emerging payment systems is under scrutiny by governments and international organizations, with a significant part of it coming from the increasingly friendly attitude of the Chinese government towards Bitcoin and its related technology. Finally, there may be regulatory barriers, such as the release of Facebook’s Libra white paper, which has led to a large number of American citizens starting to use Bitcoin and other cryptocurrencies, thus promoting the development of Bitcoin. Finally, this is the current situation of domestic Bitcoin holders in China.

Domestic Bitcoin Holders

The recent trend of Bitcoin prices in China has been very active. As of 11:00 am on June 30th, BTC was temporarily reported at $8,660, ETH was temporarily reported at $2,879, EOS was temporarily reported at $4.64, and the 24-hour increase was 4.86% and 4.78% respectively. In the ranking of global digital currency total market value, LTC ranks sixth; the average transaction cost of the top ten coins is only 0.069 yuan/kWh, and there are only three working days left, accounting for 26.28% (the last time was in May 2020). Since 2017, Bitcoin has continued to rise. According to statistical data, there are 15 major Bitcoin holders in China who hold at least 0.1 Bitcoin, with a holding volume of about 10,000 in the first three quarters of 2019. Among them, institutions account for more than 30%, and large funds account for 20%.

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