Germany Has Only 12% Of Its Seized Bitcoin Holdings To Offload After Weeks Of Selling 

The
German
government’s
Bitcoin
wallet
now
holds
only
5,900
BTC
worth
about
$338
million
after
weeks
of
selling
down
an
original
stash
of
50,000
seized
BTC.

This
wallet
has
been
dumping
Bitcoin
seized
from
a
film
pirating
website
since
last
month,
leaving
Germany
with
only
11.8%
of
its
original
BTC
hoard
to
sell.

The
wallet’s
holdings
briefly
dropped
below
5,000
BTC
on
July
11
after
transferring
over
10,000
coins
to
cryptocurrency
exchanges
and
other
wallet
addresses.
However,
some
unsold
coins
were
later
transferred
back
to
the
wallet.

Bitcoin
Selling
Spree
Triggers
Criticism

The
selling
spree
has
drawn
criticism
from
German
legislator
Joana
Cortar.
In
a
post
on
X,
Cortar

said
the
selling
activity
was
“not
sensible
but
counterproductive.”

She
argued
that
the
German
government
should
hold
Bitcoin
as
a
strategic
reserve
currency
and
invited
other
legislators
to
learn
more
about
the
digital
asset.

Concerns
about
selling
by
the
German
government,
and
refunds
made
to
investors
by
the
defunct
crypto
exchange
Mt.
Gox
that
might
then
be
sold,
have
helped
plunge
the
Bitcoin
Fear
and
Greed
Index
to
25,
the
lowest
since
January
last
year
and
a
reading
that
shows
“extreme
fear”
among
investors.

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