🚀🔥 "German Government (BKA)" wallet is on a BTC selling spree! They've just added 6,000 more Bitcoin, worth a cool $354 million, ready for another round of sell-offs. So far, they've transferred 5,853.409 BTC to exchanges like Coinbase, Kraken, and others. Next up? Offloading $342 million worth of BTC. 💸

This follows a previous distribution of 3,100 BTC, valued at $178 million, and a withdrawal of 1,700 BTC from Bitstamp. As of July 10, the wallet's holdings dropped to 18,110 BTC, worth $1.06 billion, a drop of over $400 million. 😱

But here's the kicker: despite the sell-off and over $1 billion in BTC entering the market, Bitcoin's price has rebounded to highs of $58,000. Talk about resilience! 💪

The funds, seized from the illegal streaming portal Movie2k, are going to the state budget of Saxony. But filmmakers, as victims of Movie2k, could claim parts of it, pending court decisions.

Dr. Lennart Ante, CEO of Blockchain Research Lab, questions the Saxon government's sales strategy, suggesting auctions or OTC deals might be more effective.

What do you think? Is the German government's sell-off strategy a hit or a miss? Let's discuss in the comments! 🗣️👇

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