The post China goes big on Gold, but is Bitcoin the next safe haven? appeared on BitcoinEthereumNews.com.

Bitcoin and Gold rose as U.S-China tensions pushed investors towards safe-haven assets Whale wallets surged too, with over 60 new addresses now holding 1,000+ BTC since early March As geopolitical frictions between the U.S and China intensify, both nations appear to be doubling down on strategic financial assets. However, in sharply contrasting ways. While the U.S ramps up efforts to position itself as a global crypto leader, China has quietly increased its gold reserves by five tonnes in less than a month. This signals a defensive play amid escalating trade tensions. This came after Chinese authorities seized 15,000 Bitcoin [BTC], worth around $1.4 billion, from illicit operations, pushing local officials to explore disposal strategies. China’s Gold push According to a recent post by The Kobeissi Letter, the People’s Bank of China’s accelerated bullion accumulation reflects growing caution in the face of global market instability. Meanwhile, Bitcoin has held firm above $87,000 despite recent turbulence, including a sharp drop triggered by Donald Trump’s announcement of a 245% import tax on Chinese goods. The swift rebound has left market watchers questioning whether crypto is becoming the new safe haven in a world of uncertain fiat and fractured diplomacy. Meanwhile, Bitcoin’s steady ascent continues to draw in heavyweight investors, with fresh data signaling a notable surge in whale activity. At the time of writing, Bitcoin was trading at $90,107.15, following gains of 3.27% in the last 24 hours. Additionally, Glassnode data revealed that over 60 new wallets holding 1,000 BTC or more have emerged since early March. This has pushed the total number of such addresses to 2,100 – The highest level in four months. This spike is a sign of renewed confidence from large holders, even amid shifting macroeconomic pressures. Meanwhile, Gold prices have soared to $3,401, driven by aggressive institutional buying,…

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Filed under: News - @ April 23, 2025 8:26 am