๐ฉ๐ช *It's Not Germany Selling Bitcoin - It's Saxony!* ๐ช
๐ **The Details:**
- It's not the country of Germany, but the small state of Saxony, that's been selling millions of dollars worth of Bitcoin.
- Saxony confiscated nearly 50,000 BTC in January as part of a criminal investigation. โ๏ธ๐ฐ
- Standard procedure requires the state to sell confiscated assets, despite the uproar from crypto enthusiasts. ๐
๐ **What Happened:**
- The state's Criminal Police Office seized 49,857 BTC from Movie2k.to's operator for illegal activities.
- Recently, the German Federal Criminal Police Office began moving BTC to exchanges like Kraken, Coinbase, and Bitstamp to liquidate these assets.
- The wallet's Bitcoin holdings have dropped to 23,788 BTC.๐ **Market Impact:**
- Social media reactions have been harsh, criticizing the sale of such a significant amount of Bitcoin.
- "Germany selling all their #Bitcoin will go down as one of the most retarded things their politicians ever did," commented one user. ๐
- However, this sell-off is a routine process for liquidated assets from criminal investigations.๐ **Current Situation:**
- Some exchanges returned $200 million to Saxony, indicating insufficient demand to buy such a large sum at once.
Stay informed and share your thoughts below! ๐ฌ๐
