The German government has sold its entire Bitcoin holdings, 49,860 $BTC worth around US$2.9 billion, through various exchanges and over-the-counter (OTC) services over the past three weeks.
The last sale took place on July 12, with Bitcoin sent to Coinbase, Kraken, Bitstamp, and unknown addresses.
The sell-off has sparked fear in the crypto market, causing Bitcoin prices to drop to US$53,000 on July 5, but has rebounded to US$62,500 on July 15 thanks to the political situation in the US.
Some Bitcoiners sent small donations to the German government after the sale, with the mocking message “HFSP” (Have Fun Staying Poor).
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