As everyone knows, China owns a lot of Bitcoin.
One thing I’ve been wondering about is what would happen if they were to sell all of it, surely this would crash the price of Bitcoin? It’s obvious that they’re probably going to do something like this in the future with all the FUD they put out and due to the decentralized nature of Bitcoin/Crypto in general no one could stop them from mass selling all of it.
Wouldn’t this be a huge problem considering Bitcoin is pretty vulnerable currently and it’s in their interests to take it down. Just some thoughts I’ve had, and is definitely worrying knowing they have this much power over Bitcoin.
I’m not trying to create some argument here about how “bitcoin superior” and how “hodl forever”. I just wanted to create a discussion about this.
EDIT: I’m referring to the crypto that they have seized, not crypto they have bought themselves.