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International Business Times

Business

Marvie Basilan

'New Paradigm': German Government Unloads Hundreds Of Millions Worth Of Bitcoin

Bitcoin Germany Crypto Ki Young Ju Michael Saylor Mike Alfred

The German government's massive Bitcoin sell-off last week has garnered various reactions from crypto users and Bitcoiners. (Credit: AFP)

KEY POINTS

A Bitrue strategist said Germany may deem that BTC prices will 'soften for a while to come'
One observer noted that the German government isn't worried about the dump since it can seize BTC 'forever'
Germany seized 50,000 Bitcoins from a movie piracy website after the programmer 'voluntarily' forfeited the assets

Germany, known for seizing approximately $3 billion worth of Bitcoin assets from a movie piracy website, has unloaded hundreds of millions worth of the world's largest cryptocurrency by market cap, and the market isn't taking the news well.

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