China cuts US Treasury holdings to $618B, lowest since 2008
- —China's US Treasury portfolio fell to $618 billion from $633.4 billion in June
- —This is the lowest level since 2008 and an 18-year low
- —The reduction continues a multi-year trend away from dollar reserves
Why it matters: Falling demand from the largest holder of US Treasuries weakens the dollar and supports the bitcoin narrative as an alternative reserve asset.
Source: Coinotag