The German Government Announced the Real Reason Behind the Sale of #Bitcoin !
Important points
-The German government recently disposed of approximately 50,000 $BTC .
-Authorities published an official statement regarding the reason behind this selling wave in Bitcoin.
-They revealed that BTC price movement does not influence their actions, but the regulatory framework does.
The German Bitcoin sale took place between June 19 and July 12, ending efforts that began in January. During this time, a Bitcoin trove worth approximately $2.1 billion was confiscated. The seizure was part of an investigation targeting hacking websites and money laundering involving individuals from Germany and Poland.
Officials argued that market conditions were considered "irrelevant" in decision-making processes. "The Bitcoin price and market conditions were 'irrelevant' to the decision to sell #BTCâïž and it was forbidden to wait for prices to rise," the prosecutor's office explained.
They cited legal requirements requiring an âimmediate saleâ when a significant risk of depreciation is perceived, usually defined as 10% or more. As a result, they stated that they were obliged by law to sell Bitcoins without waiting.
