The founder and CEO of analytics platform CryptoQuant, Ki Young Ju, said that Chinese authorities have likely already sold 194,000 bitcoins confiscated in the PlusToken pyramid case.

Ki Young Ju recalled that in 2019, the bitcoins confiscated in the PlusToken pyramid case were sent to cryptocurrency mixers and subsequently to Chinese crypto exchanges such as Huobi.

“There’s no point in using mixers and multiple exchanges if they didn’t sell it. The Chinese Communist Party said the assets were transferred to the national treasury, without specifying whether they were sold,” said Ki Young Ju.

In his opinion, on-chain data indicates that bitcoins were sold back in 2019, and in this case, one should trust the information of on-chain data, and not the words of representatives of the Chinese Communist Party.

Earlier, Ki Young Ju said that he doubts the prospects for the emergence of a strategic government reserve in bitcoins in the United States of America under the new administration of Donald Trump.