Germany Retains $2.2B in Bitcoin Amid Market Uncertainty
Germany holds 39,826 BTC worth approximately $2.2 billion, according to data from Arkham Intelligence and CryptoQuant. This amount represents nearly 9% of Bitcoin's 24-hour trading volume, which stands at $25.3 billion. The German Federal Criminal Police Office (BKA) seized these Bitcoins, primarily from the operators of the piracy website Movie2k.to earlier this year. Since mid-June, the German government has liquidated over 10,000 BTC, leading to a nearly 20% drop in Bitcoin's spot price to $55,490 over four weeks.
The decision to sell Bitcoin has sparked criticism, with some experts and members of the German Bundestag, including MP Joana Cotar, labeling it a strategic mistake that could disadvantage Germany geopolitically. Tron founder Justin Sun has offered to purchase the BTC off-market to mitigate the negative impact on the cryptocurrency's price. The recent Bitcoin sell-offs by various entities, including miners, whales, and national governments, have contributed to the recent price decline, with Bitcoin slipping nearly 13% in the past seven days.
