Local governments in China are cooperating with private companies to sell encrypted currencies in foreign markets, which turns them into cash to enhance public funds, according to Reuters reports. By the end of 2023, they kept about 15,000 BTC at a value of $ 1.4 billion, making these sales a vital source of income. With a total of 194,000 BTC worth about $ 16 billion, China is the second largest Bitcoin holder in the world, only exceeding the United States, and the use of these assets to alleviate economic challenges.
