German Government Resumes Sell-Off as Bitcoin Dips, El Salvador HODLs
The German government has resumed selling off its seized Bitcoin assets amidst a recent dip in the cryptocurrency’s price.
Germany, the largest economy in Europe, began offloading portions of its substantial Bitcoin stockpile worth approximately $3 billion.
These assets were confiscated from Movie2k.to, a movie piracy website, in 2020.
In January, German police seized 50,000 BTC from the piracy website, marking it as the “most extensive security of Bitcoins by law enforcement authorities in the Federal Republic of Germany to date,” according to a press release.
Last week, the country sold around $325 million worth of Bitcoin, with the possibility of further sales.
More recently, the German government transferred 200 BTC to Coinbase, while the same wallet also moved 200 BTC to Kraken.
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