The German state of Saxony is swiftly depleting its Bitcoin reserves after offloading another batch of confiscated assets to crypto exchanges on Thursday.
Earlier this year, the government seized Bitcoin from Movie2K, a film piracy website. It then began auctioning off around $3 billion worth of BTC.
Germany Sell-Off Hits 35,000 BTC This Week
On Thursday, Bitcoin wallets linked to German authorities transferred 10,567 BTC (about $600 million) to various entities, including Bitstamp, Coinbase, Kraken, Flow Traders, and Cumberland DRW.
According to blockchain data from Arkham Intelligence, these transactions occurred in multiple batches throughout the day. The wallets now only hold 6,894 BTC ($394 million), down from the nearly 50,000 BTC when they began selling three weeks ago.
At the current pace, Germany could finish the sell-off by Friday or early next week, considering they have unloaded around 35,000 BTC this week alone.
It is worth noting that the total count may still fluctuate,
We współpracy z: https://cryptopotato.com/german-bitcoin-sell-off-nears-completion-heres-how-much-is-left/
