🇩🇪 Germany’s Bitcoin sale? Not really!
It's the state of Saxony, not the entire government. Saxony can't hold onto the coins, so they're selling them.
🚔 In January, Saxony’s police seized 49,857 BTC from Movie2k site admins. On June 19, the Federal Criminal Police (BKA) began moving these Bitcoins to #exchanges like Kraken, Bitstamp, and Coinbase. The BKA wallet now holds 23,964 #BTC☀ worth $1.42 billion.
😳 The #Cryptocommunity is nervous, but Blockchain Research Lab’s Lennart Ante says it's just standard procedure for confiscated assets, though this case is larger than usual. The BKA, involved due to their investigation role, is acting on government orders.
Expect the remaining $BTC to be sold soon. Recently, exchanges returned 5,366 BTC to the wallet, possibly due to unmet target prices. 💰🔍
