Q: Where did the German government get its Bitcoins?
A: In January 2024, the Saxony police in Germany seized nearly 50,000 BTC, worth about $2.2 billion, from an old pirated film and television website. Afterwards, these bitcoins were transferred to the account of the German Federal Criminal Police.
Q: How many Bitcoins does the German government have?
A: What we know now is the 50,000 bitcoins seized from pirated websites. So far, they still have at least 22,846 BTC left.
Q: When did the German government start selling Bitcoin? How is the sales going?
A: On June 19 this year, the German government took action and first transferred 6,500 BTC to the exchange. After that, they sold them almost every day, ranging from a few hundred to thousands. On July 8, they sold 16,038 BTC at once, worth about $900 million. But interestingly, in the early morning of the next day, they took back 3,673 BTC, probably because the price was not right. So far, they have sold more than half of the bitcoins.
Q: How do we track their movements?
A: You can download the AICoin app and follow the “Government Change Monitoring” newsletter, which is 2 minutes faster than the market trend! In addition, you can also track their addresses through some on-chain tools.
Q: Will they continue to sell it?
A: It seems so. All the bitcoins in your hands may be cleared out within 1 to 2 weeks.
Q: How big of an impact will this have on the market?
Answer: Data shows that when the German government sells Bitcoin, the market price will fall. The more they sell, the more the price will fall.
Q: Why did the market react so strongly?
A: There are several reasons. First, the German government did not sell quietly, but directly threw it into the exchange, which easily broke the buyer's market of the exchange and caused the price to fall. Second, their continuous selling will also affect everyone's mood, especially in the current less optimistic market environment. Finally, because everyone knows that the German government is selling, it also gives some speculators the opportunity to short sell, making the market more unstable.
Question: What do you think about this?
A: Many people are paying attention. Some bigwigs have publicly said that they want to buy Bitcoin from the German government, but there has been no progress. Some institutions and experts have also expressed their views. Some believe that this is a signal that the market has bottomed out, while others believe that although the number of sales is not large, it has a great impact on market sentiment.
Q: How much Bitcoin do other governments have?
A: The US government has the most, with more than 210,000 worth $12.6 billion. The British government has 61,000 worth $3.5 billion. El Salvador has 5,806 worth $330 million.
Q: Are there other governments selling Bitcoin?
A: The most important thing to pay attention to now is the US government, which has seized and sold a lot of Bitcoin. Recently, they have also made some transfers. In addition, MtGox has started to repay its debts, which is also worth everyone's attention.
In the current market situation, if you cut your losses, you will feel unwilling; if you hold on, you will worry that the price will continue to fall; if you buy at the bottom, you will be afraid of buying halfway up the mountain; if you don’t buy at the bottom, you will be afraid of missing the chance to get on board. Most of the time you are either feeling upset or blaming yourself. This kind of life is not easy. If you are in this state now, please like and follow my profile picture to join the team! I believe that our meeting can help you reduce the torture I have experienced!
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