China’s Bitcoin Shenanigans: Is a $40K Crash Coming? You Won’t Believe This!

by

So, here we are, folks. Rumor has it that China is about to dump a boatload of Bitcoin. I mean, who knew? Apparently, they’ve got around 194,000 BTC just lying around, thanks to some good old-fashioned seizures. And guess what? They’re the second-largest government Bitcoin hoarders after the U.S. Talk about a plot twist! 😲

Local Chinese Governments Allegedly Selling Bitcoin

Now, get this: even though trading crypto is illegal in mainland China, local governments are sneaking around like it’s a game of hide-and-seek, selling off confiscated Bitcoin through third-party middlemen. They’ve already liquidated $400 million! And this is just the tip of the iceberg, folks. If they keep this up, Bitcoin’s price could be in for a wild ride! 🎢

China plans to dump $BTC to $40K

They already sold it for $400M and it’s only beginning

I’m risking a lot by revealing this, but here you go

Here’s what China is secretly doing and it will affect on BTC

— Leviathan (@TechLeviathan) April 17, 2025

According to our friend the analyst, these local governments have figured out a way to cash in on their seized crypto, despite the ban. They’re using some kind of “backdoor” method to sell Bitcoin on foreign exchanges. It’s like a secret club, but instead of a password, they’re using Bitcoin! And then they’re converting it all into yuan. Classic! 💸

Now, let’s talk about this little-known company, Jiafenxiang, based in Shenzhen. They’ve processed over $400 million in crypto sales for various city governments. Sounds legit, right? I mean, who wouldn’t trust a company with a name like that? It’s like they’re trying to be mysterious or something. 🕵️‍♂️

And here’s the kicker: this whole operation exists in a legal gray area. Officials are calling it a “temporary” and “pragmatic” measure. Yeah, right! Legal scholars are probably shaking their heads, thinking, “This is a disaster waiting to happen!”

Now, China’s planning to sell 15,000 Bitcoin on offshore exchanges. Why? Because they’re strapped for cash! Apparently, public income from fines and confiscations hit 378 billion yuan in 2023. Who knew being a government could be so financially stressful? 😅

China’s Sale Could Send BTC Price To $40,000

According to our analyst buddy, 2023 was a banner year for crypto crimes in China—over $59 billion in illicit activities! And with more than 3,000 money laundering cases, it’s like a crime wave over there. This is just adding to the pile of confiscated Bitcoins they’re itching to sell.

They’ve even held seminars with judges, lawyers, and police to figure out how to handle all this seized crypto. It’s like a big meeting of the minds, but instead of discussing world peace, they’re talking about Bitcoin! And Hong Kong might just be the answer, with its legal crypto infrastructure. Who knew Hong Kong would be the savior of mainland operations? 🏦

Legal advisors are calling for some regulation on these third-party firms involved in crypto liquidation. Because, you know, it’s a bit wild out there—“lucrative and totally unregulated,” as one lawyer put it. Sounds like a recipe for disaster! 🍽️

So, what does this mean for Bitcoin? If China keeps selling off this alleged 194,000 BTC, we might just see prices plummet to $40,000. Buckle up, folks! It’s going to be a bumpy ride! 🚀

Read More

2025-04-18 18:43