A review of the German incident!
The German government successfully sold its 50,000 bitcoins for a profit of $2.2 billion. According to the BitcoinTreasuries website maintained by Coinkite, the US government is currently the largest bitcoin holder, holding 213,246 bitcoins worth about $13.58 billion.
These bitcoins are mainly confiscated from criminals through law enforcement actions, such as from the darknet market "Silk Road" case.
Despite the president of El Salvador actively promoting the purchase of bitcoin, the country holds a relatively small number of bitcoins, only 5,702, worth about $363 million. In contrast, the number of bitcoins held by the US and Chinese governments is close to 1% of the overall supply, and has actually become a large holder.
The German government began selling its bitcoins on July 8 and transferred them to exchanges within 20 days. This behavior has aroused widespread attention and concern in the market. Although the British and Ukrainian governments may also sell their bitcoins, the US and Chinese governments do not seem to have plans or motivations to sell bitcoins.
At present, the holdings of Bitcoin ETFs have exceeded twice that of governments, reaching 1.07 million, indicating that the market demand for Bitcoin ETFs is growing. Although the German government's selling behavior has had a certain impact on the market, the market has begun to gradually digest this news.
