GERMAN GOVERNMENT ISSUED AN OFFICIAL STATEMENT ON SALES OF BTC

The German government has issued an official statement for the first time regarding the sale of 50,000 confiscated bitcoins.

Previously, all sales were reported exclusively by third-party analysts based on wallet data.

According to the statement, 90% of the coins were sold through over-the-counter transactions without directly affecting the market price. The bitcoin sales were conducted under the so-called emergency sale as per the relevant article of the criminal code. The bitcoins were confiscated from the operators of the pirate site movie2k.

By law, if there is a risk of losing 10% or more of the confiscated asset's value, it must be sold even if the criminal proceedings are not completed.

The revenue from the bitcoin sale amounted to €2.64 billion. These funds will be added to the budget only after the final conclusion of the criminal proceedings.

PS: You can read my other related crypto post below

1.power of public keys in crypto

2.binance take action against account misuse

3.wat a shock not a word on crypto was mention

4.3940 btc transfer to Coinbase by us government

5.new crypto scam method in the second quarter of the year 2024

6.huge transaction continue to occur in cryptocurrency

7.Andrew Tate global tour meme coin

8.more than $150 million withdraw from mt.gox exchange

9.Bitcoin addresses

10.you won't believe it: it new subdermal crypto wallet

11.Bitcoin whale on the move