Secret Detail in Germany Bitcoin Sales! So Why Did They Sell?
The German government announced in an official press release that it sold the Bitcoins (BTC) it confiscated. In the statement, the reason behind the sale was to prevent the risk of loss of value.
The statement included the following: "According to the law, such asset sales are required when there is a risk of loss of 10% or more of the asset value."
So when and how did Germany sell these Bitcoins?
The German government took care to minimize the price pressure on the market by carrying out the sales transaction over-the-counter. In this way, the sales transaction was prevented from dropping the Bitcoin price suddenly and sharply.
What Does This News Mean?
This step of the German government shows that it has a cautious approach towards cryptocurrencies. Authorities believe that there is a high risk of Bitcoin losing value, and therefore they are trying to minimize this risk by selling the Bitcoins they confiscated.
So what do you think?
Do you think the German government did the right thing? Share your thoughts in the comments!
Notable Points:
* Germany sold the Bitcoins it confiscated to prevent the risk of loss of value.
* The sale transaction was carried out off-exchange to minimize the price pressure on the market.
* This news shows that the German government has a cautious approach towards cryptocurrencies.
* When do you think Germany should have sold Bitcoins?
* What should the government do with this money?
* What do you think about the future of Bitcoin?
Note: This is a summary of the news and does not include comments.
