The German government is preparing to sell $900 million worth of Bitcoin, making it the largest Bitcoin sale in the country. Data from Arkham Intelligence shows more than 16,000 BTC had left exchange wallets as of July 8. 📉

On Monday, Arkham reported that the German government had sent 2738.7 BTC ($155.3 million) to “exchanges and market makers” including Kraken, Cumberland, and an unknown address. Less than 2 hours later, Germany sent another 8100 BTC ($463.2 million) to exchanges such as Kraken, Coinbase, and Bitstamp.

These Bitcoins were initially confiscated from the film piracy site Movie2k. In contrast to the US which has seized larger amounts of Bitcoin linked to criminal organizations, Germany is selling its coins more quickly, much to the chagrin of 2024 crypto enthusiasts.

Last week, Tron founder and crypto billionaire Justin Sun offered to buy the remaining German Bitcoin to relieve selling pressure in the market. The government's approach was also criticized by a German lawmaker, who suggested the government hold onto their coins as part of the country's diversified wealth rather than selling them all.

What do you think about this massive sale? Share in the comments! 😊