How many Bitcoins does the German government intend to sell? Is the market bottoming out or will it continue to fall?
I can tell you responsibly that the German government's Bitcoin sales plan will not be stopped by any calls or interventions. This plan was finalized after a long period of discussion and rigorous deliberation among various departments, and once it is implemented, it will continue unswervingly.
From another perspective, this is not a bad thing. The government's public sale of Bitcoin to increase the fiscal budget means that Bitcoin has officially become one of Germany's national reserve assets, which will help to cope with economic challenges. Germans have a deep understanding of the value of Bitcoin, and Germany has 8.4% of the number of Bitcoin nodes among the world's 1% of the population, which has a solid support base.
This move not only demonstrates the government's foresight and flexibility in fiscal management, but also provides a good reference for other countries.
However, for the price of Bitcoin, this may bring short-term pressure. At present, the German government has sold 10,000 Bitcoins, ranging from hundreds to 1,000 each time, and there are more than 40,000 to be sold. If the selling continues, especially after the news is released, the price of Bitcoin may plummet.
If you want to understand how much selling pressure there is, you can refer to Grayscale's last selling. Coupled with the impact of the recent Mentougou incident on market sentiment, the issue of Bitcoin compensation has become the focus of market attention, and the possibility of a second round of compensation may bring huge pressure to Bitcoin.
In the current market situation, whether investors prefer contracts or spot, you can follow my homepage for more information. After the market fell sharply, I am also preparing to lay out several potential coins.