Fifty thousand BTC were sold for US$2.8 billion. Germany stated that the transaction size was "moderate" and would not affect the currency price.

German authorities confirmed the completion of a 50,000 BTC sell-off after a sell-off that lasted more than three weeks, stating that the size of the OTC trade was "moderate" and had "no direct impact" on the market.

(Investors bet on interest rate cut in September, German government selling pressure ends? BTC range consolidation)

Germany sold 50,000 BTC, netting $2.88 billion

An announcement from the Dresden Prosecutor’s Office stated that they commissioned Frankfurt Bank (Bankhaus Scheich) to sell all seized Bitcoins between June 19 and July 12.

This batch of Bitcoins was initially seized in mid-January this year. The German Federal Criminal Police (Bundeskriminalamt, referred to as BKA) seized 50,000 BTC from the operator of the pirated movie website (should be movie2k.co), and the holdings surpassed Ukraine’s 46,351 coins. Fourth, after the United States, China and the United Kingdom.

(The German government seized 50,000 Bitcoins, making it the fourth largest country after the United States, Japan, and the United Kingdom)

At that time, the price of Bitcoin was approximately US$43,000, which has increased by nearly 50% based on the current price of 64,450. The proceeds from the sale were 2.639 billion euros (approximately US$2.886 billion). It is still uncertain when the court will make a decision on the confiscation.

Prosecutor's Office: No direct impact on currency prices

The prosecutor's office emphasized that the Bitcoin sell-off was completed through multiple batch transactions within three and a half weeks. Each over-the-counter (OTC) transaction did not exceed 1% of the Bitcoin market trading volume, and the transaction size did not affect the currency price. fluctuation.

It said in the statement:

We sell Bitcoin in an "emergency sale" because the law requires a sale before the end of criminal proceedings, and the bank is entrusted with selling Bitcoin in a market-friendly and fair manner, and market conditions are consistent with when the emergency sale will take place. It has nothing to do with the decision. If an emergency sale is to be carried out as soon as possible, law enforcement agencies are strictly prohibited from waiting for the market value to rise.

This article 50,000 BTC sold for US$2.8 billion, Germany stated: The transaction scale is "moderate" and will not affect the currency price. First appeared on Chain News ABMedia.