He made the remarks in a televised interview, saying China “is getting into it very big right now,” and arguing that the US must act to keep its edge.
Those numbers are widely shared in media accounts, but analysts stress they are estimates based on available on-chain research and public data. The true picture may include private holdings that are not visible on public ledgers.
Reports have disclosed that Chinese manufacturers of mining equipment — names such as Bitmain, Canaan and MicroBT — remain central to the global supply chain.
Some of those firms have moved to set up manufacturing footholds outside of China, including in the US, a step that industry watchers say is meant to blunt trade pressure and meet demand from large buyers.
This shows that influence over hardware and infrastructure can matter as much as who holds coins.
Market players have been watching a mix of signals. Policy talk in Washington, trade moves, and public comments by political leaders have all fed into market swings.
Price moves can be sharp when headlines raise the prospect of tariffs, export controls, or broad new rules. That volatility affects investors and companies that are planning long-term projects.
Analysts who study crypto holdings note that country-level estimates often rely on tracing flows and known addresses tied to exchanges or firms.
Based on reports, those methods give useful hints but leave gaps. Some assets are held by private investors, trusts, or entities that do not disclose their positions. As a result, any single figure for national holdings should be treated with care.
Featured image from Unsplash, chart from TradingView
