PANews reported on July 10 that it was not Germany that sold millions of dollars worth of Bitcoin, but a small German state called Saxony. In January this year, the German state of Saxony seized nearly 50,000 Bitcoins worth about $3 billion and sold them as usual. The state's criminal police department is responsible for the disposal of these assets, and half of them have been sold, causing market fluctuations and price drops. Despite much criticism, experts said the move was a legal asset disposal process.