๐Crypto News Alert๐: German MP Joana Cotar is making waves in the Bitcoin world! ๐ She's calling for a halt to the government's Bitcoin sell-offs, arguing it's neither "sensible" nor "productive". ๐ซ๐ฐ
Cotar believes Bitcoin should be adopted as a strategic reserve currency to safeguard against economic instability. ๐ก๏ธ๐ฑ She's concerned about the government's current strategy, stating, "Instead of holding Bitcoin as a strategic reserve currency, our government is selling on a large scale." ๐
Data from Arkham reveals that over the past month, the German government sold 8,611 BTC, resulting in a net portfolio change of -$820 million at current prices. ๐ฑ Now, Germany holds 41,226 BTC, valued at approximately $2.28 billion. ๐ฐ
Recent movements show the German government transferred approximately 1,300 coins, valued at around $75 million, to centralized exchanges like Coinbase, Kraken, and Bitstamp. ๐
Meanwhile, TRON blockchain founder Justin Sun has expressed interest in acquiring all BTC off-market from the German government. ๐ค
This isn't the only factor influencing the crypto market. The anticipated $9 billion compensation payout to creditors of the collapsed cryptocurrency exchange Mt. Gox has also been linked to the recent decline in Bitcoin prices. ๐
Bitcoin's value has dropped below $55,000, a level not seen since February. This follows reports that Mt. Gox transferred about 47,000 BTC, worth approximately $2.7 billion, to a new wallet ahead of the payout. ๐๐ฑ
Stay tuned for more updates! ๐ฐ๐