🔥Hot off the press! It's not Germany, but the small state of Saxony that's been selling millions of dollars worth of Bitcoin! 🇩🇪 Saxony confiscated almost 50K BTC in January and has been selling its holdings as per standard practice for assets seized during criminal investigations.

Crypto fans worldwide are roasting the decision, but Saxony doesn't have a choice. The state's Criminal Police Office seized the BTC from a website guilty of money laundering and other illegal activities.

A crypto wallet belonging to the German Federal Criminal Police Office started moving thousands of BTC to exchanges, signaling an intent to sell. The wallet's bitcoin holdings have dwindled to 23,788.

Social media reactions have been harsh, with users calling out Germany's government officials. But what's happening isn't a bad investment strategy – it's standard procedure for confiscated assets.

The general prosecutor's office of Saxony is responsible for liquidating confiscated assets, and the sell-off is hardly surprising.

What's your take on this? Is Saxony making a mistake or just following procedures? Let's discuss! 🗨️ #CryptoNews #BitcoinSale