Why Did The German Government Sell Off 50,000 Bitcoin In 2 Weeks
The German government has sold all of its Bitcoin (BTC) in just two weeks. The reason for the substantial Bitcoin dump was unveiled in a recent statement by the Saxony Central Office for the Protection and Realization of Virtual Currencies. Why Germany Sold All Its Bitcoin In a blog post published on July 16, the Saxon Central Office and Frankfurt Bankhaus Scheich Wertpapierspezialist AG, a German securities trading bank, announced that they had successfully completed the sale of approximately 49,858 BTC. Starting on June 19, 2024, the German government began to sell off its massive....
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Over the last month, the crypto airwaves have been filled with reports of the German government selling large amounts of Bitcoin. These sell-offs have negatively impacted the Bitcoin price, as well as the broader crypto market, sending the whole market into the red. However, while the German government has been the most prominent seller during […]
Bitcoin, the largest cryptocurrency asset, is in the limelight as the German government, the Bundeskrimanalamt (BKA), has continued its aggressive BTC selling spree, transferring over 6,306 BTC as part of its ongoing liquidation strategy, which has triggered a broader discussion about its potential impact on the crypto asset’s price. German Government Offloads Thousands Of Bitcoin […]
The Bitcoin price is in a decline once more, after seeing some recovery on Wednesday due to the turnaround in the Spot Bitcoin ETFs net flows. However, just one day later, it seems the pioneer cryptocurrency has resumed the downtrend and this decline after the recovery has begun a worrying trend. So, what are the factors that are driving this decline? Bitcoin Price Suffers From Sell-Offs One of the major factors that have been behind the Bitcoin decline is the major sell-offs that have rocked the digital asset. These sell-offs are not just from any investor, but rather large BTC sells....
Article updated on August 19th at 14:31 (BST). The German ministry of finance (Bundesministerium der Finanzen) has officially recognised bitcoin, mentioning the digital currency in a reply to an inquiry in parliament. "The German Ministry of Finance does not classify bitcoins as e-money or as a functional currency, they cannot be regarded as a foreign currency. Nevertheless they have to be subsumed under the German term of 'Rechnungseinheit' as a financial instrument," Martin Chaudhuri, of Bundesministerium der Finanzen, told CoinDesk. German news website Die Welt reports Member of....
Ethereum has shown some degree of resilience in the face of heavy volatility in the broader crypto landscape, keeping ground above the $3,000 barrier in a week when Bitcoin stumbled under the weight of German economic policies. Related Reading: 6,400 Ethereum Mystery Move Sparks ETH Rally Talk Pre-ETF Nod Ether hodlers are keenly observing as the terrain of digital currencies undergoes notable changes; many of them are focusing on a possible $5,000 milestone. A Test Of The Market There were tremors felt in the cryptocurrency market when the German government decided to sell about 5,000....